$50 $0 $50 50 20 70 20 20 70 50 30 80 10 15 40 50 45 95 15 15 31.67 4 50 62 112 17 15.50 28 50 90 140 28 18 28 6. 50 132 182 42 22 30.33 7 50 186 236 54 26.57 33.71 1. If the market price is $10, then this firm will maximize profits by producing units of output. 2. If the market price is 42, then this firm will maximize profits by producing units of output and its profits will be 3. If the market price is $17, then in the long run the firm will A) operate and expand. B) operate but not expand. o123

$50 $0 $50 50 20 70 20 20 70 50 30 80 10 15 40 50 45 95 15 15 31.67 4 50 62 112 17 15.50 28 50 90 140 28 18 28 6. 50 132 182 42 22 30.33 7 50 186 236 54 26.57 33.71 1. If the market price is $10, then this firm will maximize profits by producing units of output. 2. If the market price is 42, then this firm will maximize profits by producing units of output and its profits will be 3. If the market price is $17, then in the long run the firm will A) operate and expand. B) operate but not expand. o123

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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