RIL OI e JLIUUIQuestion Completion Status:QUESTION 49Exhibit 12-4Revenue and Cost Data for a Perfectly Competitive FirmDailyOutputTotalRevenue$0$20$40$60Price$20$20TFCTVCTC$50$50$50$50$0$12Y.$45Profit-$50-$42-$382X$W3.$78$95$20Refer to Exhibit 12-4. What is the value of the variable Z shown in the table?O soO -$38O -$35O -$40QUESTION 50Exhibit 12-5Marginal Cost$60-AverageTotalCostS40-$30Cost$10450 I 800650200Refer to Exhibit 12-5. If the market price equals $45, the maximum profit that the firm can earn is:O approximately $29,250.O approximately $9,750.O approximately $19,500.O zero dollars.

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QUESTION 49 Exhibit 12-4 Revenue and Cost Data for a Perfectly Competitive Firm Daily Output Total Revenue Price $20 $20 TFC TVC $0 $12 Y $45 TC $20 $40 $60 Profit -$50 -$42 -$438 2. $50 X $50 $50 SW $78 $95 $20 Refer to Exhibit 12-4. What is the value of the variable Z shown in the table? O so O 538 O -535 O -$40

QUESTION 49 Exhibit 12-4 Revenue and Cost Data for a Perfectly Competitive Firm Daily Output Total Revenue Price $20 $20 TFC TVC $0 $12 Y $45 TC $20 $40 $60 Profit -$50 -$42 -$438 2. $50 X $50 $50 SW $78 $95 $20 Refer to Exhibit 12-4. What is the value of the variable Z shown in the table? O so O 538 O -535 O -$40

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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