18. Assume price is $10.The profit maximizing level of output for the firm is: GA where margināl-cost just covers AVC. - b. OB where average profit per unit is the greatest. OC where marginal cost equals the $10 price. d: -OK where average cost equals avenge revenue and the firm earns' a normal rate а. TR-F of return.
18. Assume price is $10.The profit maximizing level of output for the firm is: GA where margināl-cost just covers AVC. - b. OB where average profit per unit is the greatest. OC where marginal cost equals the $10 price. d: -OK where average cost equals avenge revenue and the firm earns' a normal rate а. TR-F of return.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter13: Firms In Competitive Markets
Section: Chapter Questions
Problem 7PA
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![18. Assume price is $10.The profit maximizing level of output for the firm is:
GA where margināl-cost just covers AVC. -
b. OB where average profit per unit is the greatest.
OC where marginal cost equals the $10 price.
d: -OK where average cost equals avenge revenue and the firm earns' a normal rate
а.
TR-F
of return.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa6b22689-15e2-4cd8-88ca-26aeab025292%2Ff50cfc4c-6784-473b-8ee8-51db0001cf46%2Fqflulxo.jpeg&w=3840&q=75)
Transcribed Image Text:18. Assume price is $10.The profit maximizing level of output for the firm is:
GA where margināl-cost just covers AVC. -
b. OB where average profit per unit is the greatest.
OC where marginal cost equals the $10 price.
d: -OK where average cost equals avenge revenue and the firm earns' a normal rate
а.
TR-F
of return.
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