Consider the table of marginal costs of producing t-shirts in a perfectly competitive market below. If the market price is equal to $8, what is the profit maximizing number of t-shirts to produce and sell? Note the second column describes marginal costs. 0 0 01 02 O 3 O 4 05 6 T-shirts 0 1 2 3 4 5 6 Marginal Cost 6 3 6 9 11 14

Consider the table of marginal costs of producing t-shirts in a perfectly competitive market below. If the market price is equal to $8, what is the profit maximizing number of t-shirts to produce and sell? Note the second column describes marginal costs. 0 0 01 02 O 3 O 4 05 6 T-shirts 0 1 2 3 4 5 6 Marginal Cost 6 3 6 9 11 14

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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