Pls help me stepwise correctly The table shows the cost and revenue information for a perfectly (or purely) competitive firm that produces external hard drives.Use whole numbers to answer the six questions.Quantity (units)1011121314151617Fixed cost ($)100100100100100100100100Variable cost ($)3674145202300435588774What is the marginal revenue received from the 11th unit?What is the marginal cost of producing the 11th unit?What price does this firm charge for each hard drive?How many units should this firm produce tomaximize profits?$$$Total revenue ($)1,0001,1001,2001,3001,4001,5001,6001,700per unitunits

Marginal Revenue is the additional revenue generated by producing and selling one more unit of a…

The table shows the cost and revenue information for a perfectly (or purely) competitive firm that produces external hard drives. Use whole numbers to answer the six questions. Quantity (units) 10 11 12 13 14 Fixed cost ($) 100 100 100 100 100 Variable cost ($) 36 74 145 202 300 Total revenue ($) 1,000 1,100 1,200 1,300 1400

The table shows the cost and revenue information for a perfectly (or purely) competitive firm that produces external hard drives. Use whole numbers to answer the six questions. Quantity (units) 10 11 12 13 14 Fixed cost ($) 100 100 100 100 100 Variable cost ($) 36 74 145 202 300 Total revenue ($) 1,000 1,100 1,200 1,300 1400

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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