Answered

The table below illustrates the output choices the typical computer producer faced in 1978.

\begin{tabular}{ccccccccc}
\begin{tabular}{c}
Output \\
per \\
Month
\end{tabular} & Price & \begin{tabular}{c}
Total \\
Revenue
\end{tabular} & Total Cost & Total Profit & \begin{tabular}{c}
Marginal \\
Revenue
\end{tabular} & \begin{tabular}{c}
Revenue \\
Cost
\end{tabular} & \begin{tabular}{c}
Average \\
Total Cost
\end{tabular} & \begin{tabular}{c}
Profit per \\
Unit (Price \\
ATC)
\end{tabular} \\
\hline
0 & [tex]$\$[/tex]1,000[tex]$ & $[/tex]\[tex]$0$[/tex] & [tex]$\$[/tex]60,000[tex]$ & $[/tex]-\[tex]$60,000$[/tex] & - & - & - & - \\
100 & 1,000 & 100,000 & 90,000 & 10,000 & [tex]$\$[/tex]1,000[tex]$ & $[/tex]\[tex]$300$[/tex] & [tex]$\$[/tex]900[tex]$ & $[/tex]\[tex]$100$[/tex] \\
200 & 1,000 & 200,000 & 130,000 & 70,000 & 1,000 & 400 & 650 & 350 \\
300 & 1,000 & 300,000 & 180,000 & 120,000 & 1,000 & 500 & 600 & 400 \\
400 & 1,000 & 400,000 & 240,000 & 160,000 & 1,000 & 600 & 600 & 400 \\
500 & 1,000 & 500,000 & 320,000 & 180,000 & 1,000 & 800 & 640 & 360 \\
600 & 1,000 & 600,000 & 420,000 & 180,000 & 1,000 & 1,000 & 700 & 300 \\
700 & 1,000 & 700,000 & 546,000 & 154,000 & 1,000 & 1,260 & 780 & 220 \\
800 & 1,000 & 800,000 & 720,000 & 80,000 & 1,000 & 1,740 & 900 & 100 \\
900 & 1,000 & 900,000 & 919,800 & [tex]$-19,800$[/tex] & 1,000 & 1,998 & 1,022 & -22
\end{tabular}

According to the table,

Instructions: Enter your responses as a whole number.

a. What was the prevailing computer price in 1978?



Answer :

GinnyAnswer
From the given data in the table, we can determine the computer price in 1978 by examining the "Price" column for any output level.

Referring to the "Price" column in the table, we see that the price remains constant at [tex]$1,000 for each output level. Thus, regardless of the quantity produced, the price per computer was always $[/tex]1,000.

Therefore, the prevailing computer price in 1978 was:
[tex]\[ \$1,000 \][/tex]

Other Questions