Instructions: Round your answers to the nearest whole number. (c) Calculate the firm's total profit. Total profit: $ 10 (d) If the firm operates at optimum efficiency, how much will its output be? Optimum output:| 6| (e) If the firm were a perfect competitor, how much would its price be in the long run?
Instructions: Round your answers to the nearest whole number. (c) Calculate the firm's total profit. Total profit: $ 10 (d) If the firm operates at optimum efficiency, how much will its output be? Optimum output:| 6| (e) If the firm were a perfect competitor, how much would its price be in the long run?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please check if CDE are right, thanks
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