40 The following cost data is for a firm which is selling in a perfectly competitive market It the market price for the firm's product the competitive firm will: t of Total Average Average variable Average Marginal product fixed total cost cost cost cost 1. $100.00 $17.00 $117.00 $17 2. 50.00 16.00 66.00 15 3. 33.33 15.00 47.33 13 4. 25.00 14.25 39.25 12 20.00 14.00 34.00 13 6. 16.67 14.00 30.67 14 14,29 15.71 30.00 26 8. 12.50 17.50 30.00 30 9. 11.11 19.44 30.55 35 10 10.00 21.60 31.60 41 11 9.09 24,00 33.09 48 7.33 26.67 35.00 56 12 Select one: O a. produce 8 units at an economic profit of $16. O b. produce 8 units at a loss equal to the firm's total fixed cost. O c. produce 5 units at a loss of $10. orofit of $41.50.
40 The following cost data is for a firm which is selling in a perfectly competitive market It the market price for the firm's product the competitive firm will: t of Total Average Average variable Average Marginal product fixed total cost cost cost cost 1. $100.00 $17.00 $117.00 $17 2. 50.00 16.00 66.00 15 3. 33.33 15.00 47.33 13 4. 25.00 14.25 39.25 12 20.00 14.00 34.00 13 6. 16.67 14.00 30.67 14 14,29 15.71 30.00 26 8. 12.50 17.50 30.00 30 9. 11.11 19.44 30.55 35 10 10.00 21.60 31.60 41 11 9.09 24,00 33.09 48 7.33 26.67 35.00 56 12 Select one: O a. produce 8 units at an economic profit of $16. O b. produce 8 units at a loss equal to the firm's total fixed cost. O c. produce 5 units at a loss of $10. orofit of $41.50.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter8: Perefect Competition
Section: Chapter Questions
Problem 5SQP
Related questions
Question
![40
The following cost data is for a firm which in nelling in a perfectly competitive market It the market price for the firm's product is $32,
the competitive firm will:
t of
Total
Average
Average
variable
Average
total
Marginal
product
fixed
cost
cost
cost
cost
$100.00
$17.00
$117.00
$17
50.00
16.00
66.00
15
3.
33.33
15.00
47.33
13
25.00
14.25
39.25
12
20.00
14.00
34.00
13
9.
16.67
14.00
30.67
14
7.
14,29
15.71
30.00
26
8.
12.50
17.50
30.00
30
9.
11.11
19.44
30.55
35
10
10.00
21.60
31.60
41
11
9.09
24,00
33.09
48
7.33
26.67
35.00
56
12
Select one:
O a. produce 8 units at an economic profit of $16.
O b. produce 8 units at a loss equal to the firm's total fixed cost.
O c. produce 5 units at a loss of $10.
nd produce 7 units at an economic profit of $41.50.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F63f3bb66-5494-4f2d-9b46-9c96f024bcf1%2Fa772f6e5-08f7-4ce7-8860-ee0172624b2b%2F3crd5k_processed.jpeg&w=3840&q=75)
Transcribed Image Text:40
The following cost data is for a firm which in nelling in a perfectly competitive market It the market price for the firm's product is $32,
the competitive firm will:
t of
Total
Average
Average
variable
Average
total
Marginal
product
fixed
cost
cost
cost
cost
$100.00
$17.00
$117.00
$17
50.00
16.00
66.00
15
3.
33.33
15.00
47.33
13
25.00
14.25
39.25
12
20.00
14.00
34.00
13
9.
16.67
14.00
30.67
14
7.
14,29
15.71
30.00
26
8.
12.50
17.50
30.00
30
9.
11.11
19.44
30.55
35
10
10.00
21.60
31.60
41
11
9.09
24,00
33.09
48
7.33
26.67
35.00
56
12
Select one:
O a. produce 8 units at an economic profit of $16.
O b. produce 8 units at a loss equal to the firm's total fixed cost.
O c. produce 5 units at a loss of $10.
nd produce 7 units at an economic profit of $41.50.
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