Q10 neededQ8 pic is just for referenceQuestion 10Refer to Table 5-1 and the firm in Question 8, How much profit does the firm make at the chosen quantity? (enter just the number, no $) Question 8Table 5-1 below shows the price and cost information for a firm that operates in a perfectly competitive market.Price and cost data for a firm in a perfectly competitive marketPrice QuantityTotalCostMarginal CostTotal RevenueProfit$8 0 $6n/a0$81$10$82 $1516$83 $21$84 $29$85 $38$8 6 $486923

In perfect competition, eqm Q(quantity) is found by the intersection of MC(marginal cost) and…

Answered: Q10 needed Q8 pic is just for…

Q10 needed Q8 pic is just for reference Question 10 Refer to Table 5-1 and the firm in Question 8, How much profit does the firm make at the chosen quantity? (enter just the number, no $)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q10 needed

Q8 pic is just for reference

Question 10

Refer to Table 5-1 and the firm in Question 8,

How much profit does the firm make at the chosen quantity?

(enter just the number, no $)

Question 8
Table 5-1 below shows the price and cost information for a firm that operates in a perfectly competitive market.
Price and cost data for a firm in a perfectly competitive market
Price Quantity
Total
Cost
Marginal Cost
Total Revenue
Profit
$8 0 $6
n/a
0
$8
1
$10
$8
2 $15
16
$8
3 $21
$8
4 $29
$8
5 $38
$8 6 $48
6
9
2
3

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