In the given graph of a perfectly competitive firm, assume that the firm is profit maximizing and does not shut down in the short run. Price $485 $450 $300 $225 205 260 Quantity Calculate the firm's total cost. a) $48,100 b) $78,000 c) -$78,000 d) -$48,100 336 4 365 MC ATC AVC MR-P

In the given graph of a perfectly competitive firm, assume that the firm is profit maximizing and does not shut down in the short run. Price $485 $450 $300 $225 205 260 Quantity Calculate the firm's total cost. a) $48,100 b) $78,000 c) -$78,000 d) -$48,100 336 4 365 MC ATC AVC MR-P

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter8: Perefect Competition

Section: Chapter Questions

Problem 9SQP

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Question

In the given graph of a perfectly competitive firm, assume that the firm is profit maximizing and
does not shut down in the short run.
Price
$485
$450
$300-
$225
205 260
c) -$78,000
d) -$48,100
Quantity
Calculate the firm's total cost.
a) $48,100
b) $78,000
336
365
MC
ATC
AVC
MR=P

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