d. In the table below, complete the short-run supply schedule for the firm (columns 1 and 2) and indicate the profit or loss incurred at each output (column 3). (1) Price $27.00 33.00 39.00 44.00 50.00 58.00 68,00 (2) Quantity Supplied, Single Firm (3) Profit (+) or Loss (-) (4) Quantity Supplied, 1,500 Firms

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Chapter1: Making Economics Decisions
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d. In the table below, complete the short-run supply schedule for the firm (columns 1 and 2) and indicate the profit or loss incurred at
each output (column 3).
(1)
Price
$27.00
33.00
39.00
44.00
50.00
58.00
68,00
(2)
Quantity
Supplied,
Single Firm
(3)
Profit (+) or
Loss (-)
(4)
Quantity Supplied,
1,500 Firms
Transcribed Image Text:d. In the table below, complete the short-run supply schedule for the firm (columns 1 and 2) and indicate the profit or loss incurred at each output (column 3). (1) Price $27.00 33.00 39.00 44.00 50.00 58.00 68,00 (2) Quantity Supplied, Single Firm (3) Profit (+) or Loss (-) (4) Quantity Supplied, 1,500 Firms
Total
Product Cost
345WNH1
2
6
Average Average
Fixed
Variable
Cost
7
8
9
10
$60.00
30.00
20.00
15.00
12.00
10.00
8.57
7.50
6.67
6.00
$45.00
42.50
40.00
37.50
37.00
37.50
38.57
40.63
43.33
46.50
Average
Total
Cost
$105.00
72.50
60.00
52.50
49.00
47.50
47.14
48.13
50.00
52.50
Marginal
Cost
$45.00
40.00
35.00
30.00
35.00
40.00
45.00
55.00
65.00
75.00
Transcribed Image Text:Total Product Cost 345WNH1 2 6 Average Average Fixed Variable Cost 7 8 9 10 $60.00 30.00 20.00 15.00 12.00 10.00 8.57 7.50 6.67 6.00 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 Average Total Cost $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 Marginal Cost $45.00 40.00 35.00 30.00 35.00 40.00 45.00 55.00 65.00 75.00
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