9 1 2 3 FC VC MC TC AVC ATC N/A N/A N/A 13 15 20...
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9 1 2 3 FC VC MC TC AVC ATC N/A N/A N/A 13 15 20 IS 18 44 FC= fixed cost, VC=variable cost, MC= marginal cost, TC= total cost ,AVC= average cost, ATC= average total cost The table above has some cost data for a perfectly competitive firm. Assume that only whole quantities of the good can be produced. a. Fill in the missing items in the following table b.find the short run profit maximizing level of output and profit if the price of output is 23. c. Find the the short run profit maximizing level of output and profit if the price of output is 13 9 1 2 3 FC VC MC TC AVC ATC N/A N/A N/A 13 15 20 IS 18 44 FC= fixed cost, VC=variable cost, MC= marginal cost, TC= total cost ,AVC= average cost, ATC= average total cost The table above has some cost data for a perfectly competitive firm. Assume that only whole quantities of the good can be produced. a. Fill in the missing items in the following table b.find the short run profit maximizing level of output and profit if the price of output is 23. c. Find the the short run profit maximizing level of output and profit if the price of output is 13
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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