6. Refer to Narrative 16-1. When Peter maximizes his profits, what is his total cost per day? Quantity20PriceMRMCАТС$5.60$5.20$4.80$4.40$4.00$3.60$3.20$2.80$2.40$5.20$4.40$3.60$2.80$2.00$1.20$0.40-$0.40-$1.20$2.20$2.40$2.05$2.10$2.15$2.20$2.25$2.30$2.35$2.40$2.4540$2.60$2.80$3.00$3.20$3.40$3.60$3.806080100120140160180

The functional relationship between the factors of production (inputs) and output is shown by the…

Price MC Quantity 20 MR АТС $5.60 $5.20 $4.80 $5.20 $4.40 $3.60 $2.05 $2.10 $2.15 $2.20 $2.40 $2.60 40 60 $4.40 $4.00 $3.60 $3.20 $2.80 $2.80 $2.00 $1.20 $0.40 -$0.40 $2.80 $3.00 $3.20 $3.40 $3.60 $2.20 $2.25 $2.30 $2.35 80 100 120 140 $2.40 $2.45 160 180 $2.40 -$1.20 $3.80

Price MC Quantity 20 MR АТС $5.60 $5.20 $4.80 $5.20 $4.40 $3.60 $2.05 $2.10 $2.15 $2.20 $2.40 $2.60 40 60 $4.40 $4.00 $3.60 $3.20 $2.80 $2.80 $2.00 $1.20 $0.40 -$0.40 $2.80 $3.00 $3.20 $3.40 $3.60 $2.20 $2.25 $2.30 $2.35 80 100 120 140 $2.40 $2.45 160 180 $2.40 -$1.20 $3.80

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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