3. Look at Table 8.13. What would happen to the firm's profits if the market price increases to $6 per pack o raspberries? Quantity 0 10 20 30 40 50 60 Total Cost $62 $90 $110 $126 $144 $166 $192 Fixed Cost $62 $62 $62 $62 $62 $62 $62 Variable Cost $28 $48 $64 $82 $104 $130 Total Revenue $0 $60 $120 $180 $240 $300 $360 Profit -$62 -$30 $10 $54 $96 $134 $168

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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3. Look at Table 8.13. What would happen to the firm's profits if the market price increases to $6 per pack of
raspberries?
Quantity
0
10
20
30
40
50
60
70
Total Cost
$62
$90
$110
$126
$144
$166
$192
$224
Fixed Cost
$62
$62
$62
$62
$62
$62
$62
$62
Variable Cost
$28
$48
$64
$82
$104
$130
$162
Total Revenue
$0
$60
$120
$180
$240
$300
$360
$420
Profit
-$62
-$30
$10
$54
$96
$134
$168
$196
Transcribed Image Text:3. Look at Table 8.13. What would happen to the firm's profits if the market price increases to $6 per pack of raspberries? Quantity 0 10 20 30 40 50 60 70 Total Cost $62 $90 $110 $126 $144 $166 $192 $224 Fixed Cost $62 $62 $62 $62 $62 $62 $62 $62 Variable Cost $28 $48 $64 $82 $104 $130 $162 Total Revenue $0 $60 $120 $180 $240 $300 $360 $420 Profit -$62 -$30 $10 $54 $96 $134 $168 $196
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