Microeconomics Course Assignment

In fulfillment of Course ePortfolio and CSIS requirement

This Assignment is required and totals 100 points
Part 1 Perfect Competition Analysis

Market
Price
Total Perfect
Output/h Competiti Total
r (TFC) (TVC) (TC) (AFC) (AVC) (ATC) (MC) on Revenue
0 $12 $0 $12.00 - - - - 6.00 0.00
1 $12 6 $18.00 12.00 6.00 18.00 6.00 6.00
2 $12 9 $21.00 6.00 4.00 10.00 3.00 12.00
3 $12 11 $23.00 4.00 3.00 7.00 2.00 18.00
4 $12 12 $24.00 3.00 3.00 6.00 1.00 24.00
5 $12 14 $26.00 2.00 2.00 5.00 2.00 30.00
6 $12 17 $29.00 2.00 2.00 4.00 3.00 36.00
7 $12 21 $33.00 1.00 3.00 4.00 4.00 42.00
8 $12 26 $38.00 1.00 3.00 4.00 5.00 48.00
9 $12 32 $44.00 1.00 3.00 4.00 6.00 54.00
10 $12 39 $51.00 1.00 3.00 5.00 7.00 60.00
11 $12 47 $59.00 1.00 4.00 5.00 8.00 66.00
 Total
Profit (MR)
-12.00
-12.00 6.00
-9.00 6.00
-5.00 6.00
0.00 6.00
4.00 6.00
7.00 6.00
9.00 6.00
10.00 6.00
10.00 6.00
9.00 6.00
7.00 6.00
 Average Costs of Producti on
20.00
18.00
16.00
14.00
Productioin Costs

12.00
10.00
8.00
6.00
4.00
2.00
0.00
1 2 3 4 5 6 7 8 9 10 11
Output

Average Fi xed Costs (AFC) Average Vari a bl e Costs (AVC)

Average Total Costs (ATC) Margi na l Costs (MC)

Profi t Maximizati on
$70.00
$60.00
Revenues and Costs

$50.00
$40.00
$30.00
$20.00
$10.00
$0.00
1 2 3 4 5 6 7 8 9 10 11 12
Output

Tota l Costs (TC) Tota l Revenue

 Total Costs of Producti on
$70
$60
$50
Dollar costs

$40
$30
$20
$10
$0
1 2 3 4 5 6 7 8 9 10 11 12
Output

Tota l Fi xed Costs (TFC) Tota l Vari a bl e Costs (TVC)

Tota l Costs (TC)

Measuring Total Profi ts

20.00
18.00
Price and Costs per Unit

16.00
14.00
12.00
10.00
8.00
6.00
4.00
2.00
0.00
1 2 3 4 5 6 7 8 9 10 11
Output

Avera ge Tota l Costs (ATC) Margi na l Costs (MC)

Ma rgi nal Revenue (MR)