a. What is firm A's profit-maximizing level of output if market price is set at $1.40?_Qb. Firm A's total revenue if market price is set at $1.30? $.c. Firm A's Average Fixed Cost at 21 units of output x is: $d. Firm A's Total Cost at 21 units of output x is: $ - Graph below shows costs, price, and quantity of x for firm A which is a price takeroperating in a perfectly competitive market.1.91.81.61.51.41638aaaa090.3Price ($ per unit)0.5MCATCAVCQuantity Qx

Note: “Since you have posted a question with multiple sub-parts, we will solve the first three…

a. What is firm A's profit-maximizing level of output if market price is set at $1.40? _Q b. Firm A's total revenue if market price is set at $1.30? $ c. Firm A's Average Fixed Cost at 21 units of output x is: $

a. What is firm A's profit-maximizing level of output if market price is set at $1.40? _Q b. Firm A's total revenue if market price is set at $1.30? $ c. Firm A's Average Fixed Cost at 21 units of output x is: $

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter9: Perfect Competition

Section9.4: Topics For Analysis In The Theory Of Perfect Competition

Problem 2ST

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Question

a. What is firm A's profit-maximizing level of output if market price is set at $1.40?
_Q
b. Firm A's total revenue if market price is set at $1.30? $.
c. Firm A's Average Fixed Cost at 21 units of output x is: $
d. Firm A's Total Cost at 21 units of output x is: $

- Graph below shows costs, price, and quantity of x for firm A which is a price taker
operating in a perfectly competitive market.
1.9
1.8
1.6
1.5
1.4
1
638aaaa
09
0.3
Price ($ per unit)
0.5
MC
ATC
AVC
Quantity Qx

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