Question
The following schedule shows demand and total cost.
Price Quanity Total cost
$30 10 $200
29 11 208
28 12 217
27 13 227
26 14 238
25 15 250
24 16 263
To maximize profit firm should produce _____units of output and charge a price of $______
Price Quanity Total cost
$30 10 $200
29 11 208
28 12 217
27 13 227
26 14 238
25 15 250
24 16 263
To maximize profit firm should produce _____units of output and charge a price of $______
Answers
Jane
P $26 X Q 14 = $ 364 - Cost $238 = $126 , Which is max Profit among those.