The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a firm are shown in the figure below. The market price is $26. Instructions: Use the tool provided (Pt. A) to identify the profit-maximizing output. Then use the tool "Profit" to draw the area of profit (or loss) that occurs at this level of output. Position this rectangle by dragging on the vertices. Price/Cost ($) 50 Tools MC 40 Pt. A Profit ATC 30 AVC 20 10 10 20 30 40 50 Quantity Instructions: Round your answer to the nearest whole number. Use a negative sign if necessary. At the profit-maximizing level of output, average total cost is $ and profit is $

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a firm are shown in the figure below. The
market price is $26.
Instructions: Use the tool provided (Pt. A) to identify the profit-maximizing output. Then use the tool "Profit" to draw the area of profit
(or loss) that occurs at this level of output. Position this rectangle by dragging on the vertices.
Price/Cost ($)
50 r
Tools
MC
40
Pt. A
Profit
ATC
30
AVC
20
10
10
20
30
40
50
Quantity
Instructions: Round your answer to the nearest whole number. Use a negative sign if necessary.
At the profit-maximizing level of output, average total cost is $
and profit is $
Transcribed Image Text:The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a firm are shown in the figure below. The market price is $26. Instructions: Use the tool provided (Pt. A) to identify the profit-maximizing output. Then use the tool "Profit" to draw the area of profit (or loss) that occurs at this level of output. Position this rectangle by dragging on the vertices. Price/Cost ($) 50 r Tools MC 40 Pt. A Profit ATC 30 AVC 20 10 10 20 30 40 50 Quantity Instructions: Round your answer to the nearest whole number. Use a negative sign if necessary. At the profit-maximizing level of output, average total cost is $ and profit is $
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