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b. At a product price of $42.00 (i) Will this firm produce in the short run? (Click to select) v (ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? |(Click to select voutput = units per firm (iii) What economic profit or loss will the firm realize per unit of output? (Click to select ♥ per unit = $ C. At a product price of $33.00 (i) Will this firm produce in the short run? (Click to select) V (ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? (Click to select ♥output = units per firm (iii) What economic profit or loss will the firm realize per unit of output? [(Click to select ♥ per unit = $

b. At a product price of $42.00 (i) Will this firm produce in the short run? (Click to select) v (ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? |(Click to select voutput = units per firm (iii) What economic profit or loss will the firm realize per unit of output? (Click to select ♥ per unit = $ C. At a product price of $33.00 (i) Will this firm produce in the short run? (Click to select) V (ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? (Click to select ♥output = units per firm (iii) What economic profit or loss will the firm realize per unit of output? [(Click to select ♥ per unit = $

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Assume that the cost data in the following table are for a purely competitive producer: Average Average Fixed Variable Average Total Total Marginal Product Cost Cost Cost Cost 1 $60.00 $45.00 $105.00 $45.00 2 30.00 42.50 72.50 40.00 3 20.00 40.00 60.00 35.00 4 15.00 37.50 52.50 30.00 5 12.00 37.00 49.00 35.00 6 10.00 37.50 47.50 40.00 8.57 38.57 47.14 45.00 8 7.50 40.63 48.13 55.00 9 6.67 43.33 50.00 65.00 10 6.00 46.50 52.50 75.00 Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Select "Not applicable" and enter a value of "O" for output if the firm does not produce. a. At a product price of $67.00 (i) Will this firm produce in the short run? (Click to select) ♥ (ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? |(Click to select voutput = units per firm (iii) What economic profit or loss will the firm realize per unit of output? (Click to select v per unit = $ b. At a product price of $42.00 (i) Will this firm produce in the short run? (Click to select) ♥ (ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? |(Click to select v output = units per firm (iii) What economic profit or loss will the firm realize per unit of output? |(Click to select v per unit = $ c. At a product price of $33.00 (i) Will this firm produce in the short run? [(Click to select) ♥ (ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? (Click to select ♥ output = units per firm (iii) What economic profit or loss will the firm realize per unit of output? (Click to select per unit = $
Transcribed Image Text:Assume that the cost data in the following table are for a purely competitive producer: Average Average Fixed Variable Average Total Total Marginal Product Cost Cost Cost Cost 1 $60.00 $45.00 $105.00 $45.00 2 30.00 42.50 72.50 40.00 3 20.00 40.00 60.00 35.00 4 15.00 37.50 52.50 30.00 5 12.00 37.00 49.00 35.00 6 10.00 37.50 47.50 40.00 8.57 38.57 47.14 45.00 8 7.50 40.63 48.13 55.00 9 6.67 43.33 50.00 65.00 10 6.00 46.50 52.50 75.00 Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Select "Not applicable" and enter a value of "O" for output if the firm does not produce. a. At a product price of $67.00 (i) Will this firm produce in the short run? (Click to select) ♥ (ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? |(Click to select voutput = units per firm (iii) What economic profit or loss will the firm realize per unit of output? (Click to select v per unit = $ b. At a product price of $42.00 (i) Will this firm produce in the short run? (Click to select) ♥ (ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? |(Click to select v output = units per firm (iii) What economic profit or loss will the firm realize per unit of output? |(Click to select v per unit = $ c. At a product price of $33.00 (i) Will this firm produce in the short run? [(Click to select) ♥ (ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? (Click to select ♥ output = units per firm (iii) What economic profit or loss will the firm realize per unit of output? (Click to select per unit = $
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