Question

Figure 12-4 Price and cost MC ATC AVC $40.50 36.00 30.00 22.00 20.00 -MR 130 180 240 Quantity Figure 12-4 shows the cost and demand curve for a profit-maximizing firm in a perfectly competitive market. 37) Refer to Figure 12-4. If the market price is $30 and if the firm is producing output, what is the amount of its total variable cost? A) $7,200 B) $6,480 C) $5,400 D) $3,960 Figure 15-6 Revenue and cost per unit $30 ATC Demand MR 62 83 104 Quantity Figure 15-6 shows the cost and demand curves for a monopolist. 38) 38) Refer to Figure 15-6. The profit-maximizing output and price for the monopolist are A) output = 83: price = $22. B) output = 62: price - $24. C) output = 62: price = $18. D) output = 104: price = $20.80.

Answer 1

producing ANSWER 124. If the market parce is $30 and if the form is ocetput, what in the amount of its total varrable cost profit maximizing condition of outbout where (McaraR) Marginal cost equal Marginal revence Total outlet vanable losta Average variable cast x = 22 x 180 2 $3960 TVC (D) $3960 Marginal cost equal 15-6 profit raarginal maximizing condition where Revenue CMCZARS (B) output = 62, price = $24