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Situation Analysis: If a norwester hit on mango orchard what will be the market scenario-
Supply curve after few days and remaining
season
Normal supply curve
P
10 Supply curve immediate after norwester
08
6
0
0
6 7 8 Q
100
00 D
Q 100000
Exercise:
Now, TR = P.Q
=> TR = (170 20Q)Q
=> TR = 170Q - 20Q2 ------- Eq. 5
From eq. 3,
= TR TC
=> = (170Q - 20Q2) (100 + 38Q)
=> = - 20Q2 +132Q 100 ---------Eq. 6
/Q = - 40Q + 132
At max, => - 40Q + 132 = 0, (For max, /Q = 0)
=> Q = 3.3
Managerial Economics: Class 3: 04 April, 2017
Mohiuddin Ahmed Sarker, Roll: ZR-1603015
Calculation of TR, TC, , Marginal Revenue (MR), Marginal Cost (MC) and Marginal Profit (M )
assuming quantity 0, 1, 2, 3, 4, 5, 6 & 7
Q TR TC MR MC M
0 0 100 -100
1 150 138 12 150 38 112
2 260 176 84 110 38 72
3 330 214 116 70 38 32
4 360 252 108 30 38 -8
5 350 290 60 -10 38 -48
6 300 328 -28 -50 38 -88
7 210 366 -156 -90 38 -128