Accounting Homework Help

In the table below are given the output (X), T.C., and Price for a firm. Complete the following table, and then answer the questions at the bottom of the table.

X T.C P = A.R. = 52 T.R A.T.C. M.C. M.R. Profit (+) or Loss (-) amount

0 72

1 90

2 112

3 138

4 168

5 202

6 240

7 282

8 328

9 378

10 432

A.The profit maximization level of output (PMS) for a price of $52 is __________units of output with a (profit/loss) _______ of $ ________

B. At various prices below, indicate the Quantity Supplied and its corresponding Profit or Loss (exact amount)

Price Quantity Supplied Profit or Loss (exact amount)

54 ___________ ________

46 ___________ ________

42 __________ ________

38 __________ ________

34 __________ ________

26 __________ _______

Monopoly Problem



Mark, Cherry and Eric Jones jointly patented a method for manufacturing Adam Smith bobble head dolls. The plan is for a very limited production run. They investigate the potential market for this unique novelty and find their sales and total cost schedules to be as follows: (The costs include a licensing fee to the estate of Adam Smith)



Sales Unit Price Total Cost


0 200 140


1 180 170


2 160 200


3 140 220


4 120 250


5 100 300


6 80 380



A) Calculate their TR, MR, ATC, MC and profit/loss schedules



B) Determine the equilibrium price, equilibrium output, unit profit, and total profit at the equilibrium point for these ingenious entrepreneurs.