Use the cost data to complete the charts.
a) When P=58
Yes, this firm will produce
Profit maximizing output by setting P=MC = 8
Profit per unit = 58-48.13 = 9.87
b) P=43
Yes, this firm will produce
Loss minimizing output = 6
Loss per unit = 43-47.5 = -4.5
c) When P =34
No, this firm will not produce
Not applicable
output = 0 units
Total loss = -60
d and e)
P | QS-SINGLE FIRM | P/L | QS-1500 FIRMS |
27 | 0 | -60 | 0 |
33 | 0 | -60 | 0 |
39 | 5 | -50 | 7500 |
44 | 6 | -21 | 9000 |
50 | 7 | 20.02 | 10500 |
58 | 8 | 78.96 | 12000 |
68 | 9 | 162 | 13500 |
Use the cost data to complete the charts. Assume that the following cost data are for...
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