I have to fill in this table:
Price = 6 Marginal Revenue = 3
Quantity of Output = 1500 Total Revenue = _____
Total Cost = _____ Fixed Costs = 1500
Average Cost = 3 Marginal Cost = 2

B.
Price = 3 Marginal Revenue = 2
Quantity of Output = 1500 Total Revenue = _____
Total Cost = 4500 Fixed Costs = _____
Average Cost = _____ Marginal Cost = 3

Question

I have to fill in this table:
Price = 6 			Marginal Revenue = 3
Quantity of Output = 1500 	Total Revenue = _____
Total Cost = _____ 		Fixed Costs = 1500
Average Cost = 3 		Marginal Cost = 2

B.	
Price = 3 			Marginal Revenue = 2
Quantity of Output = 1500 	Total Revenue = _____
Total Cost = 4500 		Fixed Costs = _____
Average Cost = _____ 	Marginal Cost = 3

anonymous · Answer

@paki

paki · Answer

Total revenue is (Tr) = quality of the product (Q) * unit price  (P)...

Marginal revenue (Mr) = change in total revenue (Tr) / change in quality of product (Q)...

Total Cost (TC) = (AVC + AFC) X Output (Which is Q)...

Average Variable Cost (AVC) = Total Variable Cost / QAverage Fixed Cost (AFC)... 

Average Total Cost (ATC) = Total Cost / Q (Output is quantity produced or ‘Q’) ...

Total Fixed Cost (TFC) = TC – TVC...

these are the concerned formulas... just put the values in these and get your answer.... @washcaps