part C Di need in words not handwritten or pic......... 3.3 Complete and use the following table of information to answer the question below.(please replicate the table in your answer file).Cost Schedule for Candace's Cotton Candy MachinesNumberof CottonCandyMachines012345TVC270MC50AVC46.67TFCTC100300AFCAssume that price of Cotton Candy Machines is $60.a.) How many machines will Candace produce to maximize profit?Using the table in Question 3.3, answer the following questions:b.) How much revenue will Candace earn at the profit-maximizing level of output?c.) How much profit will Candace make?d.) Will Candace stay in this industry in the Long Run?ATC95

Number of cotton candy machines TVC MC AVC TFC TC AFC ATC 0 0 NA NA 100 100 NA NA 1 50 50…

Assume that price of Cotton Candy Machines is $60. a.) How many machines will Candace produce to maximize p Using the table in Question 3.3, answer the following questions: b.) How much revenue will Candace earn at the profit-maximizing

Assume that price of Cotton Candy Machines is $60. a.) How many machines will Candace produce to maximize p Using the table in Question 3.3, answer the following questions: b.) How much revenue will Candace earn at the profit-maximizing

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 4.7P

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Question

part C D

i need in words

not handwritten or pic.........

3.3 Complete and use the following table of information to answer the question below.
(please replicate the table in your answer file).
Cost Schedule for Candace's Cotton Candy Machines
Number
of Cotton
Candy
Machines
0
1
2
3
4
5
TVC
270
MC
50
AVC
46.67
TFC
TC
100
300
AFC
Assume that price of Cotton Candy Machines is $60.
a.) How many machines will Candace produce to maximize profit?
Using the table in Question 3.3, answer the following questions:
b.) How much revenue will Candace earn at the profit-maximizing level of output?
c.) How much profit will Candace make?
d.) Will Candace stay in this industry in the Long Run?
ATC
95

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