Question: Need help please. The numbers inputted are my answers. 3 of the answers are wrong so can you guys please help me figure this question

Need help please. The numbers inputted are my answers. 3 of the answers are wrong so can you guys please help me figure this question out please

Need help please. The numbers inputted are my answers. 3 of theanswers are wrong so can you guys please help me figure this

\fConsider the information in the file named Cost Functions of the Firm (also presented above). Please read that file carefully before answer this and the following questions. Suppose that these cost functions pertain to a perfectly competitive firm. If the market price of the product is P = $240 per unit, the firm will produce 6.00 units of output. The firm's revenue will equal 1440.00 dollars, its total cost of production will equal 8280.00 dollars, and it will make an economic profit of -6840.00 dollars. In that case, its producer surplus will equal 0.00 dollars. Moreover, if the market price of the product is P = $240 per unit, the firm will be able to cover | 0.00 dollars of the fixed cost

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!