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

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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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
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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