If the market price is $17 and the firm produces 4 units of output, then its profit would be a. -44 b.18 c.-50 d.0

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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If the market price is $17 and the firm produces 4 units of output, then its profit would be

a. -44
b.18
c.-50
d.0
TFC
TVC
TC
MC
AVC
ATC
$50
$0
20
$50
1
50
70
20
20
70
50
30
80
10
15
40
3
50
45
95
15
15
31.67
4
50
62
112
17
15.50
28
50
90
140
28
18
28
50
132
182
42
22
30.33
7
7 50
186
236
54
26.57
33.71
Transcribed Image Text:TFC TVC TC MC AVC ATC $50 $0 20 $50 1 50 70 20 20 70 50 30 80 10 15 40 3 50 45 95 15 15 31.67 4 50 62 112 17 15.50 28 50 90 140 28 18 28 50 132 182 42 22 30.33 7 7 50 186 236 54 26.57 33.71
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