Yann's bakery operates in a perfectily competitive market where the prevailing price for a baguette (his only product) is $3. If Yann's marginal cost function is given by MC 0. 19() Yann's profit-maximizing level of output is 0(1) Yann's variable profit is 0(H) The producer surplus is 0If Yann also has a fixed cost of $50, then:(Iv) his total profit isAssuming Yann cannot avoid the fixed cost, Yann should 0

Price = $3 Marginal Cost = 0.1q

Yann's bakery operates in a perfectly competitive market where the prevaling price for a baguette (his only product) is $3. H Yann's marginal cost function is given by MCH0. 14 ) Yann's profit-maximizing level of output is (0 (4) Yann's variable profit is (0 () The producer surplus is (0 If Yann also has a fxed cost of $50, then: (V) his total profit is Assuming Yann cannot avoid the fixed cost, Yann should 0

Yann's bakery operates in a perfectly competitive market where the prevaling price for a baguette (his only product) is $3. H Yann's marginal cost function is given by MCH0. 14 ) Yann's profit-maximizing level of output is (0 (4) Yann's variable profit is (0 () The producer surplus is (0 If Yann also has a fxed cost of $50, then: (V) his total profit is Assuming Yann cannot avoid the fixed cost, Yann should 0

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

Yann's bakery operates in a perfectily competitive market where the prevailing price for a baguette (his only product) is $3. If Yann's marginal cost function is given by MC 0. 19
() Yann's profit-maximizing level of output is 0
(1) Yann's variable profit is 0
(H) The producer surplus is 0
If Yann also has a fixed cost of $50, then:
(Iv) his total profit is
Assuming Yann cannot avoid the fixed cost, Yann should 0

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