Pls answer the below question in 5-6 sentence A perfectly competitive firm maximizes its profits when it produces 1000 units. It charges $1.50per unit and has average (total) cost of $1 per unit.When this firm produces 1000 units, its marginal cost must be $.

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Answered: A perfectly competitive firm maximizes…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A perfectly competitive firm maximizes its profits when it produces 1000 units. It charges $1.50 per unit and has average (total) cost of $1 per unit. When this firm produces 1000 units, its marginal cost must be $