Complete the following cost schedules for a perfectly competitive firm: Instructions: Enter your responses rounded to...

 

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Complete the following cost schedules for a perfectly competitive firm: Instructions: Enter your responses rounded to two decimal places. Indicate a negative response with a (-) negative sign. Quantity Total cost 1 2 4 $9 $12 $16 S21 $30 $40 S52 S66 ATC 8 $ 7.5 S 9 S 12 S 8.67 S 9.43 MC 3 S 4 $ 5 S 10 S 12 $ 14 Assuming the price of the product is $3, complete the following schedule. Instructions: Enter your responses rounded to two decimal places. Indicate a negative response with a (-) negative sign. 15 $ TR Profit/unit 9 $ 12 $ 18 $ 21 2$ Profit Assuming the price of this product is $3, at what output rate is Instructions: Enter your response as a whole number. (a) Total revenue maximized? 7 units (b) ATC minimized? 3 units (C) Profit per unit maximized (or losses minimized)? 3 units (d) Total profit maximized (or losses minimized)? (Choose the highest level of output.) Complete the following cost schedules for a perfectly competitive firm: Instructions: Enter your responses rounded to two decimal places. Indicate a negative response with a (-) negative sign. Quantity Total cost 1 2 4 $9 $12 $16 S21 $30 $40 S52 S66 ATC 8 $ 7.5 S 9 S 12 S 8.67 S 9.43 MC 3 S 4 $ 5 S 10 S 12 $ 14 Assuming the price of the product is $3, complete the following schedule. Instructions: Enter your responses rounded to two decimal places. Indicate a negative response with a (-) negative sign. 15 $ TR Profit/unit 9 $ 12 $ 18 $ 21 2$ Profit Assuming the price of this product is $3, at what output rate is Instructions: Enter your response as a whole number. (a) Total revenue maximized? 7 units (b) ATC minimized? 3 units (C) Profit per unit maximized (or losses minimized)? 3 units (d) Total profit maximized (or losses minimized)? (Choose the highest level of output.)

Answer rating: 100% (QA)

Average total cost The average total cost can be calculated as follow ... View the full answer