Consider the firm discussed in question 13. If the firm were to produce the 12 t h unit and thereby incur hourly total costs of $65, what would be its marginal cost? Based on this answer and your answers to question 13, would producing 12 units maximize the firm’s profits? What would be its hourly economic profits? Suppose that the firm with the costs and revenues tabulated below is contemplating whether to produce 12 units of output. If it were to produce this many units, what (if anything) would happen to the market price? What would be the firm’s marginal revenue for the 12 t h unit produced? What would be the firm’s total revenues per hour?

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Answer 1

Question

Chapter 23, Problem 14P

To determine

Consider the firm discussed in question 13. If the firm were to produce the 12^t^h unit and thereby incur hourly total costs of $65, what would be its marginal cost? Based on this answer and your answers to question 13, would producing 12 units maximize the firm’s profits? What would be its hourly economic profits?

Suppose that the firm with the costs and revenues tabulated below is contemplating whether to produce 12 units of output. If it were to produce this many units, what (if anything) would happen to the market price? What would be the firm’s marginal revenue for the 12^t^h unit produced? What would be the firm’s total revenues per hour?

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Answer 2

Question

Chapter 23, Problem 14P

To determine

Consider the firm discussed in question 13. If the firm were to produce the 12^t^h unit and thereby incur hourly total costs of $65, what would be its marginal cost? Based on this answer and your answers to question 13, would producing 12 units maximize the firm’s profits? What would be its hourly economic profits?

Suppose that the firm with the costs and revenues tabulated below is contemplating whether to produce 12 units of output. If it were to produce this many units, what (if anything) would happen to the market price? What would be the firm’s marginal revenue for the 12^t^h unit produced? What would be the firm’s total revenues per hour?

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Answer 3

Question

Chapter 23, Problem 14P

To determine

Consider the firm discussed in question 13. If the firm were to produce the 12^t^h unit and thereby incur hourly total costs of $65, what would be its marginal cost? Based on this answer and your answers to question 13, would producing 12 units maximize the firm’s profits? What would be its hourly economic profits?

Suppose that the firm with the costs and revenues tabulated below is contemplating whether to produce 12 units of output. If it were to produce this many units, what (if anything) would happen to the market price? What would be the firm’s marginal revenue for the 12^t^h unit produced? What would be the firm’s total revenues per hour?

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Answer 4

Question

Chapter 23, Problem 14P

To determine

Consider the firm discussed in question 13. If the firm were to produce the 12^t^h unit and thereby incur hourly total costs of $65, what would be its marginal cost? Based on this answer and your answers to question 13, would producing 12 units maximize the firm’s profits? What would be its hourly economic profits?

Suppose that the firm with the costs and revenues tabulated below is contemplating whether to produce 12 units of output. If it were to produce this many units, what (if anything) would happen to the market price? What would be the firm’s marginal revenue for the 12^t^h unit produced? What would be the firm’s total revenues per hour?

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Answer 5

Chapter 23, Problem 14P

To determine

Consider the firm discussed in question 13. If the firm were to produce the 12^t^h unit and thereby incur hourly total costs of $65, what would be its marginal cost? Based on this answer and your answers to question 13, would producing 12 units maximize the firm’s profits? What would be its hourly economic profits?

Suppose that the firm with the costs and revenues tabulated below is contemplating whether to produce 12 units of output. If it were to produce this many units, what (if anything) would happen to the market price? What would be the firm’s marginal revenue for the 12^t^h unit produced? What would be the firm’s total revenues per hour?

Answer 6

Chapter 23, Problem 14P

To determine

Consider the firm discussed in question 13. If the firm were to produce the 12^t^h unit and thereby incur hourly total costs of $65, what would be its marginal cost? Based on this answer and your answers to question 13, would producing 12 units maximize the firm’s profits? What would be its hourly economic profits?

Suppose that the firm with the costs and revenues tabulated below is contemplating whether to produce 12 units of output. If it were to produce this many units, what (if anything) would happen to the market price? What would be the firm’s marginal revenue for the 12^t^h unit produced? What would be the firm’s total revenues per hour?

Answer 7

Chapter 23, Problem 14P

To determine

Consider the firm discussed in question 13. If the firm were to produce the 12^t^h unit and thereby incur hourly total costs of $65, what would be its marginal cost? Based on this answer and your answers to question 13, would producing 12 units maximize the firm’s profits? What would be its hourly economic profits?

Suppose that the firm with the costs and revenues tabulated below is contemplating whether to produce 12 units of output. If it were to produce this many units, what (if anything) would happen to the market price? What would be the firm’s marginal revenue for the 12^t^h unit produced? What would be the firm’s total revenues per hour?

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 23 - Prob. 23.1LO Ch. 23 - Prob. 23.2LO Ch. 23 - Prob. 23.3LO Ch. 23 - Prob. 23.4LO Ch. 23 - Prob. 23.5LO Ch. 23 - Prob. aFCT Ch. 23 - Prob. bFCT Ch. 23 - Prob. cFCT Ch. 23 - Prob. 1CTQ Ch. 23 - Prob. 2CTQ

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Chapter 23 Solutions