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
Chapter1: Making Economics Decisions
Section: Chapter Questions
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QUESTION 49
Exhibit 12-4
Revenue and Cost Data for a Perfectly Competitive Firm
Daily
Output
Total
Revenue
$0
$20
$40
$60
Price
$20
$20
TFC
TVC
TC
$50
$50
$50
$50
$0
$12
Y.
$45
Profit
-$50
-$42
-$38
2
X
$W
3.
$78
$95
$20
Refer to Exhibit 12-4. What is the value of the variable Z shown in the table?
O so
O -$38
O -$35
O -$40
QUESTION 50
Exhibit 12-5
Marginal Cost
$60-
Average
Total
Cost
S40-
$30
Cost
$10
450 I 800
650
200
Refer 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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6d4c4942-8108-40ec-bb99-e0b494c7e0a7%2F21e0fc36-6b8e-485d-a3e6-daf3699457df%2F2z1r3m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:RIL OI e JLIUUI
Question Completion Status:
QUESTION 49
Exhibit 12-4
Revenue and Cost Data for a Perfectly Competitive Firm
Daily
Output
Total
Revenue
$0
$20
$40
$60
Price
$20
$20
TFC
TVC
TC
$50
$50
$50
$50
$0
$12
Y.
$45
Profit
-$50
-$42
-$38
2
X
$W
3.
$78
$95
$20
Refer to Exhibit 12-4. What is the value of the variable Z shown in the table?
O so
O -$38
O -$35
O -$40
QUESTION 50
Exhibit 12-5
Marginal Cost
$60-
Average
Total
Cost
S40-
$30
Cost
$10
450 I 800
650
200
Refer 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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