Microeconomics Theory Assignment Fall 2020
The Weinandt Family Farm in Wynot, NE raises livestock and grows crops. Commonly grown crops in Nebraska are corn and soybeans. Suppose you are helping a farm similar to the Weinandt Farm make decisions about how much corn to grow this year. As an agricultural product, the market for corn meets the requirements of a perfectly competitive market.
Microeconomics Theory Assignment Fall 2020
QD (millions of bu) | QS (millions of bu) | Price/bu | Firm q (thousands of bu) | TC | FC | VC | ATC | AFC | AVC | MC | |
0 | 6000 | 10 | 0 | 10000 | |||||||
200 | 5700 | 9.5 | 0.5 | 10128 | |||||||
400 | 5400 | 9 | 1 | 10505 | |||||||
600 | 5100 | 8.5 | 1.5 | 11133 | |||||||
800 | 4800 | 8 | 2 | 12010 | |||||||
1000 | 4500 | 7.5 | 2.5 | 13138 | |||||||
1200 | 4200 | 7 | 3 | 14515 | |||||||
1400 | 3900 | 6.5 | 3.5 | 16143 | |||||||
1600 | 3600 | 6 | 4 | 18020 | |||||||
1800 | 3300 | 5.5 | 4.5 | 20148 | |||||||
2000 | 3000 | 5 | 5 | 22525 | |||||||
2200 | 2700 | 4.5 | 5.5 | 25153 | |||||||
2400 | 2400 | 4 | 6 | 28030 | |||||||
2600 | 2100 | 3.5 | 6.5 | 31158 | |||||||
2800 | 1800 | 3 | 7 | 34535 | |||||||
3000 | 1500 | 2.5 | 7.5 | 38163 | |||||||
3200 | 1200 | 2 | 8 | 42040 | |||||||
3400 | 900 | 1.5 | 8.5 | 46168 | |||||||
3600 | 600 | 1 | 9 | 50545 | |||||||
3800 | 300 | 0.5 | 9.5 | 55173 | |||||||
4000 | 0 | 0 | 10 | 60050 |
Microeconomics Theory Assignment Fall 2020