Archibald's Tattoos is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price of a tattoo is $12.50 what is the firm's economic profit? (picture of table attached)  A. $10 per hour B. zero C. $20 per hour D. -$10 per hour

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Chapter3: Demand Analysis
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49. Archibald's Tattoos is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price of a tattoo is $12.50 what is the firm's economic profit? (picture of table attached) 

A. $10 per hour
B. zero
C. $20 per hour
D. -$10 per hour
Quantity
Total cost, TC
(tattoos per
(dollars per
hour)
hour)
10
1
25
2
35
3
50
4
70
5
95
6
125
Archibald's Tattoos is a perfectly competitive firm. The
firm's costs are shown in the table above. If the market
price of a tattoo is $12.50 what is the firm's economic
profit?
$10 per hour
zero
$20 per hour
-$10 per hour
Transcribed Image Text:Quantity Total cost, TC (tattoos per (dollars per hour) hour) 10 1 25 2 35 3 50 4 70 5 95 6 125 Archibald's Tattoos is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price of a tattoo is $12.50 what is the firm's economic profit? $10 per hour zero $20 per hour -$10 per hour
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