TABLE 8-1Revenue and Cost Data for a Perfectly Competitive FirmDaily OutputPriceTotal RevenueTFCTVCTCProfit0.$30$0V$0$40-$401$30$30$40$12W-$2221$60$40Y$68-$8$30$90$40$45$85Refer to Table 8-1. What is the value of the variable X?O so$30$40$603.

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TABLE 8-1 Revenue and Cost Data for a Perfectly Competitive Firm Daily Output Price Total Revenue TFC TVC TC Profit $30 $0 V $0 $40 -$40 1 $30 $30 $40 $12 W -$22 X. $60 $40 Y $68 -$8 3. $30 $90 $40 $45 $85 Refer to Table 8-1. What is the value of the variable X? $0 $30 $40 $60

TABLE 8-1 Revenue and Cost Data for a Perfectly Competitive Firm Daily Output Price Total Revenue TFC TVC TC Profit $30 $0 V $0 $40 -$40 1 $30 $30 $40 $12 W -$22 X. $60 $40 Y $68 -$8 3. $30 $90 $40 $45 $85 Refer to Table 8-1. What is the value of the variable X? $0 $30 $40 $60

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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TABLE 8-1
Revenue and Cost Data for a Perfectly Competitive Firm
Daily Output
Price
Total Revenue
TFC
TVC
TC
Profit
0.
$30
$0
V
$0
$40
-$40
1
$30
$30
$40
$12
W
-$22
21
$60
$40
Y
$68
-$8
$30
$90
$40
$45
$85
Refer to Table 8-1. What is the value of the variable X?
O so
$30
$40
$60
3.

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