FL = $18 4. A firm's fixed costs are $108. Using the competitive firm's cost diagrams below, find the firm's short run profit for each of the following prices: 81 67 61.60 60 45 55 36 a. p = 81 ML = 7 b. p = 60 c. p = 45 MC AC ta AVC 10 9
FL = $18 4. A firm's fixed costs are $108. Using the competitive firm's cost diagrams below, find the firm's short run profit for each of the following prices: 81 67 61.60 60 45 55 36 a. p = 81 ML = 7 b. p = 60 c. p = 45 MC AC ta AVC 10 9
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:FL = $18
4. A firm's fixed costs are $108. Using the competitive firm's cost diagrams below, find
the firm's short run profit for each of the following prices:
81
67
61.60
60
45
55
36
a. p = 81 ML = 7
b.
p = 60
c.
p = 45
MC
AC
ta
AVC
10
9
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