once i find the profit maximizing level of output if all i have is marginal cost,...
once i find the profit maximizing level of output if all i have is marginal cost, average foxed cost, average variable cost, and market price in a perfectly competitive industry how do i find the firm's profit at the given level of output?
Homework Answers
Profit 
.
Price.
Average total
cost.
Given level of output.
Note that the average total cost is the sum of both average fixed cost and the average variable cost.
Ans: The profit can be calculated by the above formula. First deduct average total cost from the price and multiply it with the given level of output , the average total cost is the sum of both average fixed cost and the average variable cost.
ATC= (Take the sum of both average fixed cost and the variable cost at the given level of output).
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once i find the profit maximizing level of output if all i have
is marginal cost,...
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A firm has the cost function That is, it has a fixed production capacity i, below which marginal ...
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At the profit-maximizing output, total fixed cost MC MR ATC b AVC hkn Output Multiple Choice is fgab. is Ogan. is ba Dollars Saved If a perfectly competitive firm is producing at the P MC output and realizing an economic profit, at that output Multiple Choice marginal revenue is less than price. marginal revenue exceeds ATC. ATC is being minimized. total revenue equals total cost. The average total cost curve for a perfectly competitive firm. Suppose the marginal cost curve...
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