Ask a New Question

How do you calculate economic profit without knowing the quantity?

Here is the information included in the question I'm trying to answer regarding finding the economic profit.

price - $8.50
current output - 100 units
ATC at current output - $9.00
AVC at current output - $8.00
total fixed costs - $100
MC at current output - $8.00

How do I find the economic profit from the given information. A formula would be extremely helpful - thanks!!

Ask a New Question or answer this question.

Similar Questions

Assume a monopolist with the following demand and cost relationships.Q = 400 - 20p TC = 10 + 5q + q2 Calculate the following:
1. 0 answers
Which is the best piece of information to assess how issues impact global relationships?Knowing a country's location Knowing
1. 1 answer
The business opened with a debt of $3400. After 4 years, it accumulated profit of $4900.Find the profit as a function of time t,
1. 1 answer
I thinks i got the problem right this timeP=MR=$750 TC =2,500,000+500q+0.005Q^2 (squared) Mc =500+0.01Q Calculate profit
1. 0 answers

more similar questions