Average Average Total Marginal Total Quantity Cost Variable Cost Cost Cost 1,000 10 1,600 60 160 60 20 2,100 50 105 55 30 2,500 40 83.33 50 40 2,800 30 70 45 50 3,200 40 64 44 60 3,700 50 61.67 45 70 4,300 60 61.43 47.14 80 5,000 70 62.5 50 90 5,800 80 62.44 53.33 Consider the above costs of a purely competitive firm. Calculate this firm's profit-maximizing quantity and profit (or loss) when the market price of th computer software equals $43.

Average Average Total Marginal Total Quantity Cost Variable Cost Cost Cost 1,000 10 1,600 60 160 60 20 2,100 50 105 55 30 2,500 40 83.33 50 40 2,800 30 70 45 50 3,200 40 64 44 60 3,700 50 61.67 45 70 4,300 60 61.43 47.14 80 5,000 70 62.5 50 90 5,800 80 62.44 53.33 Consider the above costs of a purely competitive firm. Calculate this firm's profit-maximizing quantity and profit (or loss) when the market price of th computer software equals $43.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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