Question

You are given the following cost​ data: q TFC TVC 0 11 0 1 11 12 2 11 22 3 11 34 4 11 48 5 11 64 6 11 82 1. If the price of output is ​$15​, this firm will produce ______units of output. (Enter your response as an integer.) 2. The total revenue is $ _________. (Enter your response as an integer.) 3. The total cost is _________. Enter your response as an integer.)

Answer 1

Answer:1 ) 6 units of output,( 2) Total revenue is $90, (3) Total Cost is $93

Step-by-step explanation:

Q TFC TVC. TC

$ $ $

O 11 0 11

1 11 12 23

2 11 22 33

3 11 34 45

4. 11 48 59

5 11 64 75

6 11 82 93

To calculate the total cost

TFC + TVC = Total Cost

11 + 0 = 11

11 + 12 = 23

11 + 22 = 33

11 + 34 = 45

11 + 48 = 59

11 + 64 = 75

11 + 82 = 93

The total cost is $93

To calculate the Total revenue

Price × Quantity

Since price = $15, Quantity = 6 unit

15 × 6 = 90

Total revenue = $90

The firm will produce 6 units of output