firm in a perfectly competitive market: а. What is profit for this firm if price = $22? Make sure to give me a dollar amount rather than an output level. b. What is the short-run shut down price? What is the break-even price? Ç. С.
firm in a perfectly competitive market: а. What is profit for this firm if price = $22? Make sure to give me a dollar amount rather than an output level. b. What is the short-run shut down price? What is the break-even price? Ç. С.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Given the information in the table below for a
firm in a perfectly competitive market:
а.
What is profit for this firm if price =
$22? Make sure to give me a dollar amount
rather than an output level.
b.
What is the short-run shut down price?
What is the break-even price?
С.
Q
MC
AVC
ATC
($)
($)
($)
40
12.50
12.50
35.00
100
8.33
10.00
19.00
130
16.66
11.53
18.46
150
25.00
13.33
19.33
160
50.00
15.62
21.25](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd9b99642-650b-43a5-bb64-38df0e958ba1%2F0192862c-0535-497a-8f73-62064702f5ea%2Fzz05co_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Given the information in the table below for a
firm in a perfectly competitive market:
а.
What is profit for this firm if price =
$22? Make sure to give me a dollar amount
rather than an output level.
b.
What is the short-run shut down price?
What is the break-even price?
С.
Q
MC
AVC
ATC
($)
($)
($)
40
12.50
12.50
35.00
100
8.33
10.00
19.00
130
16.66
11.53
18.46
150
25.00
13.33
19.33
160
50.00
15.62
21.25
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