s 62.36 units, and the profit (to the nearest penny) at this output le y to shift right. This will continue until the price is equal to the mini e profit will be zero

Q: Hi, can you explain the formula for get those results.

A: The formulas used to get the values of x1, x2....x9 depends on the values available and deduced in…

Q: How does a cost behave in response to a change in activity? Give an example?

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A: Total cost refers to the cost of production a firm incurs at different levels of output.Marginal…

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Q: Don't use chatgpt

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Q: 1. Explain the decisions taken for an individual product.

A: When making decisions for a personal product, several factors have to be considered, consisting of:-

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A:

Q: $/Q MC $30 ATC AVC 20 D 10 MR 50 100| 150 200 117 222

A: Given:ATC=$20Quantity=117

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A:

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Profit Maximization

Economic activity is related to the use of scarce resources of the economy that are used for producing goods and services which are required to satisfy various demands of the people. In other words, it can be said that it is all about satisfying the unlimited demands of individuals with the limited resources available. The production decision is taken by the producers or the firms. In economics, the terms ‘producers’, ‘suppliers’, and ‘firms’ are interchangeable. Now the question arises, what does a firm actually mean?