Asked by Raj Sree
Given the following for perfectly competitive firm that has short-run cost structure
Output Marginal Cost
1 $10
2 $5
3 $12
4 $23
5 $40
Total fixed costs are $20 and the market price of the product is $25 per unit. How much output should the profit-maximizing firm produce (if any) and how much profit or loss will the firm make in the short run?
Output Marginal Cost
1 $10
2 $5
3 $12
4 $23
5 $40
Total fixed costs are $20 and the market price of the product is $25 per unit. How much output should the profit-maximizing firm produce (if any) and how much profit or loss will the firm make in the short run?
Answers
Answered by
Shirley Harris
please show me example of the question above thank you
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