Workers Total Total Cost Hired Output $20 40 $40 3 80 $60 120 $90 10 160 $130 15 200 $180 21 240 $240 Consider the total cost table of a firm shown above. Suppose the firm maximizes its profit when producing 80 units of output, what is a possible market price for the output? O $0.85 O $0.65 O $2.05 O $1.10

Workers Total Total Cost Hired Output $20 40 $40 3 80 $60 120 $90 10 160 $130 15 200 $180 21 240 $240 Consider the total cost table of a firm shown above. Suppose the firm maximizes its profit when producing 80 units of output, what is a possible market price for the output? O $0.85 O $0.65 O $2.05 O $1.10

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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