1. A firms MC//MR at 30 units of output and a price of $12. ATC at 30...
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1. A firm’s MC//MR at 30 units of output and a price of $12. ATC at 30 units of output is $15.00, AVC are $13, and consumers are demanding 30 units at a price of $20. What is the economic outcome? What type of profit/loss does this represent to the firm? What is the total profit/loss? Show your calculations.
Related Book For
Managerial Economics and Business Strategy
ISBN: 978-0073523224
8th edition
Authors: Michael Baye, Jeff Prince
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