The first picture below depicts the cost curves for a representative firm in this perfectly competitive industry. Initially, there are 100 firms. The second picture depicts market demand. larnginalCost 10 ATC AUC 200 100 600 800 100 1200 1400 10 8. Demaid 20000 10000 60000 80000 100000 120000 140000 Suppose that the firm produces 300 units of output, how much are their total costs? 2700 3000 3600 4500

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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The first picture below depicts the cost curves for a representative firm in this perfectly competitive industry. Initially, there
are 100 firms. The second picture depicts market demand.
larnginalCost
10
ATC
AUC
200 100 600 800 100
1200
1400
10
8.
Demaid
20000
10000
60000
80000 100000 120000 140000
Transcribed Image Text:The first picture below depicts the cost curves for a representative firm in this perfectly competitive industry. Initially, there are 100 firms. The second picture depicts market demand. larnginalCost 10 ATC AUC 200 100 600 800 100 1200 1400 10 8. Demaid 20000 10000 60000 80000 100000 120000 140000
Suppose that the firm produces 300 units of output, how much are their total costs?
2700
3000
3600
4500
Transcribed Image Text:Suppose that the firm produces 300 units of output, how much are their total costs? 2700 3000 3600 4500
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