social gains that are not included in what people pay for a good?

Problems

39. The AAA Aquarium Co. sells aquariums for $20 each. Fixed costs of production are $20. The total variable

costs are $20 for one aquarium, $25 for two units, $35 for the three units, $50 for four units, and $80 for

five units. In the form of a table, calculate total revenue, marginal revenue, total cost, and marginal cost for

each output level (one to five units). What is the profit-maximizing quantity of output? On one diagram,

sketch the total revenue and total cost curves. On another diagram, sketch the marginal revenue and

marginal cost curves.

40. Perfectly competitive firm Doggies Paradise Inc. sells winter coats for dogs. Dog coats sell for $72 each.

The fixed costs of production are $100. The total variable costs are $64 for one unit, $84 for two units,

$114 for three units, $184 for four units, and $270 for five units. In the form of a table, calculate total
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