Quantity Demanded Total Cost Marginal Cost Price Total Revenue Marginal Output Produced Revenue XXXXXXX XXXXXXXXXXX $50 100 $80 $0 1 150 1 $80 $80 $80 202 $52 $80 $160 $80 3 257 $55 $80 $240 $80 317 $60 $80 $320 $80 $80 $80 385 $68 $80 $400 6. 465 $80 6. $80 $480 7 $80 $560 $80 7 562 $97 $80 $640 $80 8. 682 $120 Refer to Table#1. (2 Points) Consumers are willing to pay $80 per unit of port wine. What is Soper's Port Vineyard's economic profit at their profit maximizing point? O $15 O -$2 O $3 O -$42
Quantity Demanded Total Cost Marginal Cost Price Total Revenue Marginal Output Produced Revenue XXXXXXX XXXXXXXXXXX $50 100 $80 $0 1 150 1 $80 $80 $80 202 $52 $80 $160 $80 3 257 $55 $80 $240 $80 317 $60 $80 $320 $80 $80 $80 385 $68 $80 $400 6. 465 $80 6. $80 $480 7 $80 $560 $80 7 562 $97 $80 $640 $80 8. 682 $120 Refer to Table#1. (2 Points) Consumers are willing to pay $80 per unit of port wine. What is Soper's Port Vineyard's economic profit at their profit maximizing point? O $15 O -$2 O $3 O -$42
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter4: Extent (how Much) Decisions
Section: Chapter Questions
Problem 4.2IP
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