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03.05 Getting the Most for Your Money

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Tyler Brown

on 16 January 2014

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Transcript of 03.05 Getting the Most for Your Money

Money Money
Marginal Cost Anaylst Chart
Marginal Cost Anaylst Chart

I think I would charge about $20
for the first room and then $15 each for the rest.
A Tyler Brown

What product market did you choose for this data to represent? Explain why.
I chose Cleaning Rooms because it
seemed like a service that was
realistic for the prices.
Tyler Brown
At which price and quantity does marginal cost nearly equal marginal revenue without exceeding it? Highlight this point on your graph.

The price is at which they are nearly equal is 31 and the quantity is approximately 5.4.

If you were in business for this product, at which price and quantity level would you sell? Explain why.
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