Price and costs $30 $25 $20 $17.50 $15 $10 $5 0 $ $4.40 3.25 MR MC 1 2 3 4 5 ATC Quantity Instructions: Round your answers to 2 decimal places. a. What is total revenue for this firm? b. What is total cost for this firm? Demand 6 7 8 9 10
Price and costs $30 $25 $20 $17.50 $15 $10 $5 0 $ $4.40 3.25 MR MC 1 2 3 4 5 ATC Quantity Instructions: Round your answers to 2 decimal places. a. What is total revenue for this firm? b. What is total cost for this firm? Demand 6 7 8 9 10
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter8: Perfect Competition
Section: Chapter Questions
Problem 39P: The AAA Aquarium Co. sells aquariums for 20 each. Fixed costs of production are 20. The total...
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Question
![Price and costs
$30
$25
$20 $17.50
$15
$10
$5
0
$4.40
3.25
MR
1 2 3 4
MC
5
b. What is total cost for this firm?
ATC
Demand
6 7 8 9 10
Quantity
Instructions: Round your answers to 2 decimal places.
a. What is total revenue for this firm?
c. What is this firm's economic profit?
Click to select)
V equilibrium](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F81220fef-c28a-4927-81fd-b964930d6471%2F3689ab36-85f3-4a48-887f-613518441f8a%2Fz6vsz6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Price and costs
$30
$25
$20 $17.50
$15
$10
$5
0
$4.40
3.25
MR
1 2 3 4
MC
5
b. What is total cost for this firm?
ATC
Demand
6 7 8 9 10
Quantity
Instructions: Round your answers to 2 decimal places.
a. What is total revenue for this firm?
c. What is this firm's economic profit?
Click to select)
V equilibrium
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