Question

QUESTION 7 1 poin Mikayla Valdez 104 Use the graphs below depicting a perfectly competitive market and a representative firm to answer questions 7-11: ma 250 254 ATC 'Ave 170 ICON 12.01 - Got - 10 Q(millions) 5 6 (...) Under current market conditions, what is the maximum amount of profit the firm can achieve? (Note: q in the graph is denoted in 1000's of units. E.g., 5 is 5,000). a $540,000 b. $560,000 c. $630,000 d. $1,750,000 e. None of the above.

Answer 1

Hore When price = $250 then Profit Maximization at! - 1 Ipane When pamc = $250 the output, (q= 7000 propt (T8 - TR - TO = PXq - (ATCxq) = 7000 x 250-(17ox 7000) Box 7000 T -9560000 L T (max) chi