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28 Sep 2019
This table shows the demand schedule, marginal cost, and average total cost for a monopolistically competitive firm.
Quantity
Price
Marginal Cost
Average Total Cost
0
$50
--
--
1
$45
$30
$40
2
$40
$24
$32
3
$35
$14
$26
4
$30
$10
$22
5
$25
$12
$20
6
$20
$32
$22
7
$15
$50
$26
8
$10
$74
$32
9
$5
$104
$40
10
$0
$140
$50
Refer to Table 16-4. How much profit will this firm earn when it chooses its output to maximize profit?
a.
an $8 profit
b.
a $12 loss
c.
a $25 profit
d.
a $32 profit
This table shows the demand schedule, marginal cost, and average total cost for a monopolistically competitive firm.
Quantity |
Price |
Marginal Cost |
Average Total Cost |
0 |
$50 |
-- |
-- |
1 |
$45 |
$30 |
$40 |
2 |
$40 |
$24 |
$32 |
3 |
$35 |
$14 |
$26 |
4 |
$30 |
$10 |
$22 |
5 |
$25 |
$12 |
$20 |
6 |
$20 |
$32 |
$22 |
7 |
$15 |
$50 |
$26 |
8 |
$10 |
$74 |
$32 |
9 |
$5 |
$104 |
$40 |
10 |
$0 |
$140 |
$50 |
Refer to Table 16-4. How much profit will this firm earn when it chooses its output to maximize profit?
a. |
an $8 profit |
|
b. |
a $12 loss |
|
c. |
a $25 profit |
|
d. |
a $32 profit |
syedazmath1627Lv10
3 Feb 2023
Chika IlonahLv10
28 Sep 2019
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