Marginal Cost

The table shows cost and revenue data for a clinic. Calculate the clinic’s marginal cost, marginal revenue, and profits at each volume. Which price maximizes its profits?

Surgeries 250 300 350 400 450

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Price $2,000 $1,920 $1,800 $1,675 $1,550

Revenue $500,000 $576,000 $630,000 $670,000 $697,500

Cost $516,000 $538,500 $563,500 $591,000 $621,000

The table shows cost and revenue data for a clinic. Calculate the clinic’s marginal cost, marginal revenue, and profits at each volume. Which price maximizes its profits?

Surgeries 250 300 350 400 450

Price $200 $210 $220 $230 $240

Revenue $50,000 $63,000 $77,000 $92,000 $108,000

Cost $49,000 $61,000 $74,750 $90,500 $108,250

The price–quantity relationship has been estimated for a new prostate cancer blood test: Q = 4,000 − (20 × P). Use a spreadsheet to calculate the quantity demanded and total spending for prices ranging from $200 to $0, using $50 increments. For each $50 drop in price, calculate the change in revenue, the change in volume, and the additional revenue per unit. (Call the additional revenue per unit marginal revenue.)

Why would a for-profit organization that incurs losses choose to operate?

Why would a profitable for-profit organization choose to exit a line of business?

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