Price TTTET OTTTTTTT ATC AVC 3 4 5 6 7 8 9 10 11 12 Quantity...

Question

Question

Answer 1

Answer #1

Answer
the firm produces at MR=MC
where
Q=8 units
P=350
ATC=250
Economic profit=(P-ATC)*Q
=(350-250)*8
=$800
=area DABC
Option 4

Answer 2

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