Output Average Fixed Average Variable Average Total 1 2 3 4 56780 9 10 Cost $300 150 100 75 60 50 43 38 33 30 Cost $100 75 70 73 80 90 103 119 138 160 Cost $400 225 170 148 140 140 146 B) 7 units and earn economic profits of $238. C) 8 units and earn economic profits of $120. D) 8 units and earn economic profits of $278. tel:7%2043% 20103%20146%20180 171 190 If the market price for the firm's product is $180, the firm will produce A) 7 units and earn economic profits of $278. Marginal Cost $100 50 60 80 110 140 180- 230 290 360

Output Average Fixed Average Variable Average Total 1 2 3 4 56780 9 10 Cost $300 150 100 75 60 50 43 38 33 30 Cost $100 75 70 73 80 90 103 119 138 160 Cost $400 225 170 148 140 140 146 B) 7 units and earn economic profits of $238. C) 8 units and earn economic profits of $120. D) 8 units and earn economic profits of $278. tel:7%2043% 20103%20146%20180 171 190 If the market price for the firm's product is $180, the firm will produce A) 7 units and earn economic profits of $278. Marginal Cost $100 50 60 80 110 140 180- 230 290 360

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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