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Author Question: Assume the following total cost schedule for a perfectly competitive firm.OutputTVC ($)TFC ($)0 ... (Read 148 times)

allywil32

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Question 1

Assume the following total cost schedule for a perfectly competitive firm.

OutputTVC ($)TFC ($)
0    0100
1  40100
2  70100
3120100
4180100
5250100
6330100

TABLE 9-1

Refer to Table 9-1. If the market price were $75, this perfectly competitive firm wishing to maximize its profits would
◦ not produce because P < TFC.
◦ not produce because P < minimum of ATC.
◦ produce 6 units of output.
◦ produce 5 units of output.
◦ produce 2 units of output.

Question 2

Assume the following total cost schedule for a perfectly competitive firm.

OutputTVC ($)TFC ($)
0    0100
1  40100
2  70100
3120100
4180100
5250100
6330100

TABLE 9-1

Refer to Table 9-1. What is the marginal cost of producing the 2nd unit of output?
◦ $30
◦ $35
◦ $10
◦ $5
◦ $15


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Marked as best answer by allywil32 on Oct 12, 2022

jojomac20

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Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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allywil32

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Reply 2 on: Oct 12, 2022
Gracias!


bblaney

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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