Consider the table below which represents the cost and price schedules facing a perfectly competitive firm that manufactures laptops. Complete the table and use the information provided to indicate what quantity of laptops a perfectly competitive firm will produce. Quantity of the product Price per unit (R) Total profit (R) Marginal cost (R) Total revenue (R) 10 -10 10 -9 9. 2 10 -5 3 10 -3 8. 4 10 -3 10 5 10 -6 13

Consider the table below which represents the cost and price schedules facing a perfectly competitive firm that manufactures laptops. Complete the table and use the information provided to indicate what quantity of laptops a perfectly competitive firm will produce. Quantity of the product Price per unit (R) Total profit (R) Marginal cost (R) Total revenue (R) 10 -10 10 -9 9. 2 10 -5 3 10 -3 8. 4 10 -3 10 5 10 -6 13

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter14: Firms In Competitive Markets

Section: Chapter Questions

Problem 4PA

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