MICROECONOMICS FOR TODAY (LL)-W/MINDTAP
10th Edition
ISBN: 9781337739115
Author: Tucker
Publisher: CENGAGE L
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Question
Chapter 8.5, Problem 1YTE
To determine
Short-run impact of an increase in demand.
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The Firm's Output Decision (Study Plan 12.2)
Use the following table to work Problems 4 to 6.
Pat's Pizza Kitchen is a price taker. Its costs are
Output
(pizzas per hour)
Total cost
(dollars per hour)
0
10
1
21
2
30
3
41
4
54
5
69
4. Calculate Pat's profit-maximizing output and
economic profit if the market price is
(i) $14 a pizza.
(ii) $12 a pizza.
(iii) $10 a pizza.
5. What is Pat's shutdown point and what is Pat's
economic profit if it shuts down temporarily?
6. Derive Pat's supply curve.
Chapter 8 Solutions
MICROECONOMICS FOR TODAY (LL)-W/MINDTAP
Ch. 8.5 - Prob. 1YTECh. 8.5 - Prob. 2YTECh. 8 - Prob. 1SQPCh. 8 - Prob. 2SQPCh. 8 - Prob. 3SQPCh. 8 - Prob. 4SQPCh. 8 - Prob. 5SQPCh. 8 - Prob. 6SQPCh. 8 - Prob. 7SQPCh. 8 - Prob. 8SQP
Ch. 8 - Prob. 9SQPCh. 8 - Prob. 10SQPCh. 8 - Prob. 11SQPCh. 8 - Prob. 12SQPCh. 8 - Prob. 1SQCh. 8 - Prob. 2SQCh. 8 - Prob. 3SQCh. 8 - Prob. 4SQCh. 8 - Prob. 5SQCh. 8 - Prob. 6SQCh. 8 - Prob. 7SQCh. 8 - Prob. 8SQCh. 8 - Prob. 9SQCh. 8 - Prob. 10SQCh. 8 - Prob. 11SQCh. 8 - Prob. 12SQCh. 8 - Prob. 13SQCh. 8 - Prob. 14SQCh. 8 - Prob. 15SQCh. 8 - Prob. 16SQCh. 8 - Prob. 17SQCh. 8 - Prob. 18SQCh. 8 - Prob. 19SQCh. 8 - Prob. 20SQ
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