Answered: Market for Athletic Apparel $24 $22 $20…

Market for Athletic Apparel $24 $22 $20 $18 $16 $14 $12 $10 $8 $6 $4 $2 Costs and Revenues (dollars) 0 20 20 40 40 MC ATC 60 50 D MR 80 80 100 120 140

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Enter your answer as a whole number. If you are entering a negative number include a minus sign.

a. To maximize its profits, the firm should produce units and charge a price of $ .

b. At the profit-maximizing level of output, average total cost per unit is $ .

c. At its profit-maximizing level, profits are $ .

Market for Athletic Apparel
$24
$22
$20
$18
$16
$14
$12
$10
$8
$6
$4
$2
Costs and Revenues (dollars)
0
20
20
40
40
MC
ATC
60
50
D
MR
80
80
100 120 140

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