Price 100 90 80 MCATC 70 58 60. + 50 40 36 30 20 10 MR ++ 4 8 12 16 20, 24 28 32 Buantity

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Figure 16-12
Price
100
90 +
80
MC
ATC
70 +
Fog 85
50 +
40 +
36
30 +
20 +
10 +
MR
8
12 16 20,24 28 32 uaxtiy
4
b)
When this firm profit maximizes, what is the amount of the
firm's profit or loss If this firm's profit is typical of other firms in
the industry, what adjustments in the long run will happen if any?
Transcribed Image Text:Figure 16-12 Price 100 90 + 80 MC ATC 70 + Fog 85 50 + 40 + 36 30 + 20 + 10 + MR 8 12 16 20,24 28 32 uaxtiy 4 b) When this firm profit maximizes, what is the amount of the firm's profit or loss If this firm's profit is typical of other firms in the industry, what adjustments in the long run will happen if any?
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