Q (in units). AFC (in dollars) AVC (in dollars) MC (in dollars) C 2.5 18 10 4 1.25 14 14 0.83 18 42 8 0.63 30 94 10 0.5 50 170 In Table 10-1 the short-run cost schedules of a perfectly competitive firm are shown. Suppose that the units and earn a profit of market price of output is $20, the firm will produce O a. 8; $160 b. 4; $19 c. 6; $7.02 d. 6; $112,98

Q (in units). AFC (in dollars) AVC (in dollars) MC (in dollars) C 2.5 18 10 4 1.25 14 14 0.83 18 42 8 0.63 30 94 10 0.5 50 170 In Table 10-1 the short-run cost schedules of a perfectly competitive firm are shown. Suppose that the units and earn a profit of market price of output is $20, the firm will produce O a. 8; $160 b. 4; $19 c. 6; $7.02 d. 6; $112,98

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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