Pat's Pizza Kitchen is a price taker. The table shows Pat's total cost. Calculate Pat's profit-maximizing output and economic profit. >>> If an answer is negative, include a minus sign. If an answer is positive, do not include a plus sign. When the market price is $14 a pizza, Pat's profit-maximizing output is pizzas an hour and her economic profit is dollars an hour. When the market price is $12 a pizza, Pat's profit-maximizing output is pizzas an hour and her economic profit is dollars an hour. When the market price is $10 a pizza, Pat's profit-maximizing output is pizzas an hour and her economic profit is dollars an hour. Output (pizzas per hour) 2346- Total cost (dollars per hou 10 21 30 41 54 69
Pat's Pizza Kitchen is a price taker. The table shows Pat's total cost. Calculate Pat's profit-maximizing output and economic profit. >>> If an answer is negative, include a minus sign. If an answer is positive, do not include a plus sign. When the market price is $14 a pizza, Pat's profit-maximizing output is pizzas an hour and her economic profit is dollars an hour. When the market price is $12 a pizza, Pat's profit-maximizing output is pizzas an hour and her economic profit is dollars an hour. When the market price is $10 a pizza, Pat's profit-maximizing output is pizzas an hour and her economic profit is dollars an hour. Output (pizzas per hour) 2346- Total cost (dollars per hou 10 21 30 41 54 69
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Pat's Pizza Kitchen is a price taker. The table shows Pat's total cost.
Calculate Pat's profit-maximizing output and economic profit.
>>> If an answer is negative, include a minus sign. If an answer is positive, do not include a
plus sign.
When the market price is $14 a pizza, Pat's profit-maximizing output is
and her economic profit is dollars an hour.
pizzas an hour
When the market price is $12 a pizza, Pat's profit-maximizing output is pizzas an hour
and her economic profit is
When the market price is $10
and her economic profit is
dollars an hour.
a pizza, Pat's profit-maximizing output is pizzas an hour
dollars an hour.
Output
(pizzas per hour)
Total cost
(dollars per hour
0
10
1
21
2
30
3
41
4
54
5
69](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F266d961f-040b-4856-bb30-8e2d64166d0f%2F3fd61e3c-e265-42bd-9e3d-0465bc90c5eb%2Fnb07jpi_processed.png&w=3840&q=75)
Transcribed Image Text:Pat's Pizza Kitchen is a price taker. The table shows Pat's total cost.
Calculate Pat's profit-maximizing output and economic profit.
>>> If an answer is negative, include a minus sign. If an answer is positive, do not include a
plus sign.
When the market price is $14 a pizza, Pat's profit-maximizing output is
and her economic profit is dollars an hour.
pizzas an hour
When the market price is $12 a pizza, Pat's profit-maximizing output is pizzas an hour
and her economic profit is
When the market price is $10
and her economic profit is
dollars an hour.
a pizza, Pat's profit-maximizing output is pizzas an hour
dollars an hour.
Output
(pizzas per hour)
Total cost
(dollars per hour
0
10
1
21
2
30
3
41
4
54
5
69
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