Figure 1 Total cost at the profit-maximizing rate of output is? a.) $6 b.) $100 c.)...

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$10 $8 $6 12 0 2014 : ATC E MC $2 $1 03 10 20 25 30 Q Figure 1

Total cost at the profit-maximizing rate of output is?

a.) $6

b.) $100

c.) $20

d.) $200

business economics

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Answer 1

Answer #1

profits are given by total revenue minus total cost so if we take the derivative of the profits so as to find the critical points tht optimize profits, they are found where MR = MC

so here such quantity is 20, at this qty the average cost is 5

so the total cost is 5*20 = 100

so answer is B

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Answer 2

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