Homework Answers
1) Answer is C. $30.
Profit = quantity (price - ATC) = 10 (24-21 ) = 10× 3 = 30.
2) answer is B. 160 units.
Market equilibrium is where market supply and market demand intersects.
3) Answer is A. 20
Total units = 160.
Units by one firm = 8
Number of firms = 160/8 = 20.
4) answer is A. -48
Profit = quantity (price - ATC) = 6(8-16) = 6× -8 = -48.
5) answer is C. $21
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D' D $24 MC ATC S' 21 19 S 160 240 320 8 10 in the...
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