For the pizza seller whose marginal, average variable, and average total cost curves are shown in the accompanying diagram, what is the profit-maximizing level of output and how much profit will this producer earn if the price of pizza is $0.80 per slice? Instructions: In the graph below, label all three curves by double-clicking on the ??? to select the appropriate label. Then, indicate the profit-maximizing level of output and the Average Total Cost (ATC) at that output level. Price ($/slice) 2.5 1.39 1.15 685 80 .68 .50 200 260 360 Quantity (slice/day) reset 570 ד Q* ד ??? ATC ??? ??? Instruction: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. At the profit-maximizing level of output, the producer's profit is: $ per day.

For the pizza seller whose marginal, average variable, and average total cost curves are shown in the accompanying diagram, what is the profit-maximizing level of output and how much profit will this producer earn if the price of pizza is $0.80 per slice? Instructions: In the graph below, label all three curves by double-clicking on the ??? to select the appropriate label. Then, indicate the profit-maximizing level of output and the Average Total Cost (ATC) at that output level. Price ($/slice) 2.5 1.39 1.15 685 80 .68 .50 200 260 360 Quantity (slice/day) reset 570 ד Q* ד ??? ATC ??? ??? Instruction: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. At the profit-maximizing level of output, the producer's profit is: $ per day.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 6SCQ: A firms marginal cost curve above the average variable cost curve is equal to the films individual...

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For the pizza seller whose marginal, average variable, and average total cost curves are shown in the graph below, what is the profit-maximizing level of output and how much profit will this producer earn if the price of pizza is $1.50 per slice?Instructions: In the graph below, label all three curves by clicking on the dropdown to select the appropriate label. Instructions: Enter your response as a whole number. If you are entering a negative number, be sure to include a negative sign (−). When the price is $1.50 per slice, the profit-maximizing level of output is slices per day. Instructions: Enter your response rounded to the nearest penny (two decimal places). At the profit-maximizing level of output, the producer's profit is: $ per day.
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