Output of good X Short run average costs (AVC) Average Revenue (AR) 1 110 300 2 95 250 3 80 210 4 75 180 5 82 150 6 85 120 7 90 100 8 100 90 9 110 80 10 120 70 Given the table above, calculate Total Variable costs (TVC), Total Costs (TC), Marginal costs (MC, Marginal revenue (MR) and profit (loss) at each level of output.determine the profit maximizing level of output. Calculate the smallest rise in TVC that would force the firm to cease production in the short run.distinguish between the short run and long run periods of production.

/in /by

Output of good X Short run average costs (AVC) Average Revenue (AR)

1 110 300

2 95 250

3 80 210

4 75 180

5 82 150

6 85 120

7 90 100

8 100 90

9 110 80

10 120 70

Given the table above, calculate Total Variable costs (TVC), Total
Costs (TC), Marginal costs (MC, Marginal revenue (MR) and profit
(loss) at each level of output.determine the profit maximizing level
of output. Calculate the smallest rise in TVC that would force the
firm to cease production in the short run.distinguish between the
short run and long run periods of production.

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