Suppose the hospital has the following output, price, and average cost structure. Output Price Average Cost 0 45 --- 1 40 50 2 35 28 3 30 20 4 25 17 5 20 18 6 15 20 7 10 21 What is the total cost if they produce 6 units? What is the total revenue if they produce 4 units? What is the marginal revenue producing 5 units? What is the marginal cost of producing 3 units? What is the profit max quantity if the hospital is in a competitive market? What is the profit max quantity if the hospital is monopoly? What is the profit max price if the hospital is in a competitive market? What is the profit max quantity if the hospital is in monopoly? What is the total profit in the competitive market for this hospital? What is the total profit in the monopoly market for this hospital?

Suppose the hospital has the following output, price, and average cost structure. Output Price Average Cost 0 45 --- 1 40 50 2 35 28 3 30 20 4 25 17 5 20 18 6 15 20 7 10 21 What is the total cost if they produce 6 units? What is the total revenue if they produce 4 units? What is the marginal revenue producing 5 units? What is the marginal cost of producing 3 units? What is the profit max quantity if the hospital is in a competitive market? What is the profit max quantity if the hospital is monopoly? What is the profit max price if the hospital is in a competitive market? What is the profit max quantity if the hospital is in monopoly? What is the total profit in the competitive market for this hospital? What is the total profit in the monopoly market for this hospital?

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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Suppose the hospital has the following output, price and average cost structure. Output 0 Price 45 Average Cost ----- 1 40 40 50 2 35 28 3 30 20 20 4 25 17 5 20 20 18 6 15 20 20 7 10 21 a) What is the total cost if they produce 6 units ? b) What is the total revenue if they produce 4 units? c) What is the marginal revenue producing 5 units? d) What is the marginal costs of producing 3 units? e) What is the profit max quantity if the hospital is in a competitive market? f) What is the profit max quantity if the hospital is in a monopoly? g) What is the profit max price if the hospital is in a competitive market? i) What is the total profit in the competitive market for this hospital? j) What is the total profit in the monopoly market for this hospital?
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How many shuts do you recommend selling per color per day? What then is your recommended dollar markup and markup percentage? What dollar margin and percentage margin is that?