- 4 The Cost And Revenues Of 2 Firms Are As Follows Price Mr Ar Mc Mr Output 0 1 2 9 10 11 12 13 Tr 0 198 392 1638 1800 1 (117.16 KiB) Viewed 26 times
4. The cost and revenues of 2 firms are as follows: Price MR AR MC MR Output 0 1 2 9 10 11 12 13 TR 0 198 392 1638 1800
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4. The cost and revenues of 2 firms are as follows: Price MR AR MC MR Output 0 1 2 9 10 11 12 13 TR 0 198 392 1638 1800
4. The cost and revenues of 2 firms are as follows: Price MR AR MC MR Output 0 1 2 9 10 11 12 13 TR 0 198 392 1638 1800 1958 2112 2262 TC 500 589 660 1168 1330 1550 1850 2262 TR AR MR TC AC MC 20 Qty 1 2 3 4 5 6 40 Price 40 36 32 28 AWN- 58 72 80 24 20 84 2 INTRODUCTION TO ECONOMICS Complete the tables above. Identify equilibrium output and price - and profits earned at equilibrium output. What is the difference between both firms? How can you tell? (25 marks)
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