If the FC = $200, the VC of the 9th unit is $400, and the VC of the 8th unit is $300, then ___: a) The MC curve is above the ATC curve at the 10th unit; b) The MC of the 8th unit is $80; c) The ATC of the 8th unit is $80; d) The AVC of the 8th unit is $75.
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If the FC = $200, the VC of the 9th unit is $400, and the VC of the 8th unit is $300, then ___:
a) The MC curve is above the
b) The MC of the 8th unit is $80;
c) The ATC of the 8th unit is $80;
d) The
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- For upvote see the attachment and answer correctly ASAP with step by step explanation within 40minutesProfit maximization can be inferred from MR=MC since: please choose all the answers that are correct a marginal change in either direction will reduce profits, assuming diminishing marginal returns revenue = costs occurs at the breakeven point diminishing marginal returns suggest a parabolic trade-off If MR<MC then more output reduces profits If MR>MC more profit can be made by increasing outputA firm believes a product’s sales volume (S) depends on its unit selling price (P) as S = $100 − P. The production cost (C) is $1000 + 10S. (a) Graph the sales volume (S) from 0 to 100 on the x axis, total cost and total income from $0 to $2500 on the y axis, C = $1000 + 10S, and plot the curve of total income. Mark the breakeven points on the graph. (b) Determine the breakeven point (lowest sales volume at which total sales income just equals total production cost). (c) Determine the sales volume (S) at which the firm’s profit is a maximum.