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Vou own a fim in a perfectly competitive industry producing and selling gold necklaces. You know your costs (see table below) and the set market price $100. TC TFC TVC MC 150 100 50 50 170 100 70 20 200 100 100 30 250 100 150 50 350 100 250 100 500 100 400 150 7. 700 100 600 200 8. 1000 100 900 300 What quantity should the firm produce to maximize profit? O Q-3 O Q-7 O Q-1

Vou own a fim in a perfectly competitive industry producing and selling gold necklaces. You know your costs (see table below) and the set market price $100. TC TFC TVC MC 150 100 50 50 170 100 70 20 200 100 100 30 250 100 150 50 350 100 250 100 500 100 400 150 7. 700 100 600 200 8. 1000 100 900 300 What quantity should the firm produce to maximize profit? O Q-3 O Q-7 O Q-1

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Vou own a fim in a perfectly competitive Industry producing and selling gold necklaces. You know your costs (see table below) and the set market price $100. TC TFC TVC MC 150 100 50 50 170 100 70 20 3. 200 100 100 30 250 100 150 50 350 100 250 100 500 100 400 150 700 100 600 200 8. 1000 100 900 300 What quantity should the firm produce to maximize profit? O Q-3 O Q-7 O Q-1 Q-5
Transcribed Image Text:Vou own a fim in a perfectly competitive Industry producing and selling gold necklaces. You know your costs (see table below) and the set market price $100. TC TFC TVC MC 150 100 50 50 170 100 70 20 3. 200 100 100 30 250 100 150 50 350 100 250 100 500 100 400 150 700 100 600 200 8. 1000 100 900 300 What quantity should the firm produce to maximize profit? O Q-3 O Q-7 O Q-1 Q-5
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