The firm's fixed cost is $5 a day and its marginal cost is $1. The table below shows the demand schedule for Elixir flavored water. Elixir flavored water Marginal Total Cost Total Revenue Quantity [hint: TC=(MC Marginal Cost x Q) + FC Price ($) Revenue Fixed Cost (bottles) = Px Q -ΔTR /ΔQ 10 9. 1 9. 6 1 8 2 16 7 7 1 7 3 21 5 8 1 4 24 9 5 25 1 10 1 4 24 - 1 11 1 3 7 21 - 3 12 1 8 16 - 5 13 1 1 9. 9. - 7 14 1 10 6- 15 1

The firm's fixed cost is $5 a day and its marginal cost is $1. The table below shows the demand schedule for Elixir flavored water. Elixir flavored water Marginal Total Cost Total Revenue Quantity [hint: TC=(MC Marginal Cost x Q) + FC Price ($) Revenue Fixed Cost (bottles) = Px Q -ΔTR /ΔQ 10 9. 1 9. 6 1 8 2 16 7 7 1 7 3 21 5 8 1 4 24 9 5 25 1 10 1 4 24 - 1 11 1 3 7 21 - 3 12 1 8 16 - 5 13 1 1 9. 9. - 7 14 1 10 6- 15 1

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 1.9CE: How many shuts do you recommend selling per color per day? What then is your recommended dollar...

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