VariableFixedTotalAverageAverageMarginalQuantityCostsCostsCostsTotal CostsVariable CostsCosts404015405555151535407537.517.5203.604010033.32025904013032.522.5305.12540165333561604020033.326.640Refer to the table. If the firm produces 5 units that it sells at a price of $30.00 each, what will itsprofits or losses equal?O losses equal $25O profits equal $5O losses equal $5profits equal $25251,4.

Use the below formula to find the profit and loss: Profit / Loss = Total Revenue - Total CostTotal…

Answered: Refer to the table. If the firm…

Refer to the table. If the firm produces 5 units that it sells at a price of $30.00 each, what will its profits or losses equal?

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter8: Output, Price, And Profit: The Importance Of Marginal Analysis

Section8.A: Appendix The Relationships Among Total, Average, And Marginal Data

Problem 1TY

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Question

Variable
Fixed
Total
Average
Average
Marginal
Quantity
Costs
Costs
Costs
Total Costs
Variable Costs
Costs
40
40
15
40
55
55
15
15
35
40
75
37.5
17.5
20
3.
60
40
100
33.3
20
25
90
40
130
32.5
22.5
30
5.
125
40
165
33
35
6
160
40
200
33.3
26.6
40
Refer to the table. If the firm produces 5 units that it sells at a price of $30.00 each, what will its
profits or losses equal?
O losses equal $25
O profits equal $5
O losses equal $5
profits equal $25
25
1,
4.

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