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Case & Fair:Chapter 8 #5&#11
5(1)		TR	TC	TFC	TVC	Operating profit
	A	$1,500	$1,500	$500	$1,000	$500	Stay
	B	2000	1500	500	1000	$1,000	Stay
	C	2000	2500	200	2300	-$300	Shut down
	D	5000	6000	1500	4500	$500	Stay
	E	5000	7000	1500	5500	-$500	Shut down
	F	5000	4000	1500	2500	$2,500	Stay
5(2)		TR	TC	TFC	Profit
	A	$1,500	$1,500	$500	$0	Expand
	B	2000	1500	500	$500	Expand
	C	2000	2500	200	-$500	Exit
	D	5000	6000	1500	-$1,000	Exit
	E	5000	7000	1500	-$2,000	Exit
	F	5000	4000	1500	$1,000	Expand
11a	Output	TFC	TVC	TC	AVC	ATC	MC
	0	$300	$0	$300	$0	$0	$0
	1	300	100	400	100	400	100
	2	300	150	450	75	225	50
	3	300	210	510	70	170	60
	4	300	290	590	72.5	147.5	80
	5	300	400	700	80	140	110
	6	300	540	840	90	140	140
	7	300	720	1020	102.8571	145.71429	180
	8	300	950	1250	118.75	156.25	230
	9	300	1240	1540	137.7778	171.11111	290
	10	300	1600	1900	160	190	360
11b	Price	QS	TC	TR	Profit
	$50	2	$450	$100	-350
	70	3	510	210	-300
	100	1	400	100	-300
	130	5	700	650	-50
	170	6	840	1020	180
	220	7	1020	1540	520
	280	8	1250	2240	990
	350	9	1540	3150	1610
11c	Price	MarketQS	MarketQD
	$50	200	1000
	70	300	900
	100	100	800
	130	500	700
	170	600	600
	220	700	500
	280	800	400
	350	900	300
11d	Fill in the blanks: From the market supply and demand schedules in c., the equilibrium
	market price for this good is $170 and the equilibrium market quantity is 600.
	Each firm will produce a quantity of 6 and earn a profit equal to $180.
11e	Yes. At the quantity of 6, SRMC=SRAC=LRAC for each firm.
	So all the equilibrium will remain the same, the equilibrium market price for
	this good is $170 and the equilibrium market quantity is 600.And each firm earns a profit equal to $180.