QTotal CostATCAFCMC010 - - -101212/10=1.210/10=112-10/10-0=0.2201616/20=0.810/20=0.516-12/20-10=0.4302626/30=0.86710/30=0.33326-16/30-20=1403838/40=0.9510/40=0.2538-26/40-30=1.2507575/50=1.210/50=0.275-38/50-40=3.760120120/60=210/60=0.167120-75/60-50=4.5If the market price is $1.00 then what output or q (in the units of 10) is the most profitable production level?

In perfect competition , The firm's profit maximizing quantity is where P = MC P is Market price…

Answered: Q Total Cost ATC AFC MC 0 10…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q	Total Cost	ATC	AFC	MC
0	10	-	-	-
10	12	12/10=1.2	10/10=1	12-10/10-0=0.2
20	16	16/20=0.8	10/20=0.5	16-12/20-10=0.4
30	26	26/30=0.867	10/30=0.333	26-16/30-20=1
40	38	38/40=0.95	10/40=0.25	38-26/40-30=1.2
50	75	75/50=1.2	10/50=0.2	75-38/50-40=3.7
60	120	120/60=2	10/60=0.167	120-75/60-50=4.5

If the market price is $1.00 then what output or q (in the units of 10) is the most profitable production level?

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