Fill out the rest of the tablewhat would the highest profit be in this perfectly competitive firm and what would the maximizing output be?is there a breakeven price and if so, what is it? P✔✔✔GUS$505050$ 50$ 5050$$$$50$ 505050$ 5050$ 5050sunun S$$$$QTRO $1 $2 $3 $4 $5 $6 $7 $8 $9 $10 $11 $12 $13 $50100150200250300350400450500550600650MRGüssünnnnnnnnnTC20 $$ 32 $$ 48 $68 $92 $120 $152 $188 $$ 228 $272 $320 $372 S428 S488 $$MC$1014182226303438424650545862ProfitATCE11

Under a perfectly competitive market, the prices are set up in the market and the firms are required…

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what would the highest profit be in this perfectly competitive firm and what would the maximizing output be? is there a breakeven price and if so, what is it?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Fill out the rest of the table

what would the highest profit be in this perfectly competitive firm and what would the maximizing output be?

is there a breakeven price and if so, what is it?

P
✔✔✔GUS
$
50
50
50
$ 50
$ 50
50
$
$
$
$
50
$ 50
50
50
$ 50
50
$ 50
50
sunun S
$
$
$
$
Q
TR
O $
1 $
2 $
3 $
4 $
5 $
6 $
7 $
8 $
9 $
10 $
11 $
12 $
13 $
50
100
150
200
250
300
350
400
450
500
550
600
650
MR
Güssünnnnnnnnn
TC
20 $
$ 32 $
$ 48 $
68 $
92 $
120 $
152 $
188 $
$ 228 $
272 $
320 $
372 S
428 S
488 $
$
MC
$
10
14
18
22
26
30
34
38
42
46
50
54
58
62
Profit
ATCE
11

Definition Definition Structure of the market that exists when many buyers and sellers exchange similar commodities and prices are fixed by market forces, demand, and supply. When there is perfect competition, a single business cannot impact the price or market value of the homogenous product.

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