You are given the following cost and revenue data for Parkin’s Pickles, a perfectly competitive firm...
You are given the following cost and revenue data for Parkin’s Pickles, a perfectly competitive firm at its current output level.
TR = $1,680 TFC = $525 MC = $18
AFC = $5 AVC = $7
a. Is the firm making a profit or a loss? How much?
Profit
or Loss of $ .
Is the firm producing the optimal output? If not, should it produce
more, less, or none at all?
Output: No or yes , it should
produce less more none at
all .
Homework Answers
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You are given the following cost and revenue data for Parkin’s
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You are given the following cost and revenue data for Parkin's Pickles, a perfectly competitive firm at its current output level. TR = $1,425 TFC = $380 MC = $12 AFC = $4 AVC = $6 a. Is the firm making a profit or a loss? How much? (Click to select) of $ O b. Is the firm producing the optimal output? If not, should...
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