S The table shows some of the costs of production for Frank's Firewood. The firewood market is a perfectly competitive market. At a market price of $75.00 a bundle, Frank's produces 7.5 bundles of firewood. >>> Answer to 1 decimal place. www In the short run, Frank's maximizes its profit and makes an economic profit of $235 a day. >>> Answer with a positive number. sume Get more help - Total product (bundles per day) 1 2 8 3 4 Average Average Average fixed variable total cost cost cost 84.00 42.00 28.00 21.00 16.80 14.00 12.00 10.50 Clear all (dollars per bundle) 43.00 127.00 36.00 31.00 28.00 27.20 28.00 31.00 36.50 78.00 59.00 49.00 44.00 42.00 43.00 47.00 **** **** **** **** **** **** **** Marginal cost 29.00 21.00 19.00 24.00 32.00 49.00 75.00 Check answer

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
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S
The table shows some of the costs of production for Frank's Firewood. The
firewood market is a perfectly competitive market.
sume
%
At a market price of $75.00 a bundle, Frank's produces
7.5 bundles of firewood.
>>> Answer to 1 decimal place.
In the short run, Frank's maximizes its profit and
makes an economic profit of $235 a day.
>>> Answer with a positive number.
Get more help -
▷ll FS
DII
F5
-
‒‒
*
A
6
C
Y
www
F6
&
7
F7
PrtScn
F8
*
8
Home
F9
(
9
JI
O
End
F10
0
Total
product
(bundles
per day)
1
2
3
4
5
6
7
8
PgUp
Average Average Average
fixed variable
total Marginal
cost
cost
cost
cost
P
84.00
42.00
28.00
21.00
16.80
14.00
12.00
10.50
F11
Clear all
0
(dollars per bundle)
43.00
127.00
36.00
31.00
28.00
27.20
28.00
31.00
36.50
PgDn
F12
78.00
59.00
49.00
44.00
42.00
43.00
47.00
+
****
****
****
www.
****
****
G
29.00
21.00
19.00
24.00
32.00
49.00
Check answer
75.00
P4D
8:43 PM
7/31/2022
Ins
Del
Backsp
Transcribed Image Text:S The table shows some of the costs of production for Frank's Firewood. The firewood market is a perfectly competitive market. sume % At a market price of $75.00 a bundle, Frank's produces 7.5 bundles of firewood. >>> Answer to 1 decimal place. In the short run, Frank's maximizes its profit and makes an economic profit of $235 a day. >>> Answer with a positive number. Get more help - ▷ll FS DII F5 - ‒‒ * A 6 C Y www F6 & 7 F7 PrtScn F8 * 8 Home F9 ( 9 JI O End F10 0 Total product (bundles per day) 1 2 3 4 5 6 7 8 PgUp Average Average Average fixed variable total Marginal cost cost cost cost P 84.00 42.00 28.00 21.00 16.80 14.00 12.00 10.50 F11 Clear all 0 (dollars per bundle) 43.00 127.00 36.00 31.00 28.00 27.20 28.00 31.00 36.50 PgDn F12 78.00 59.00 49.00 44.00 42.00 43.00 47.00 + **** **** **** www. **** **** G 29.00 21.00 19.00 24.00 32.00 49.00 Check answer 75.00 P4D 8:43 PM 7/31/2022 Ins Del Backsp
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