QUESTION 32 Consider a firm operating in a competitive market. The firm is producing 50 units of output, has an average total cost of production equal to 7 dirhams, and is earning 350 dirhams economic profit in the short run. What is the current market price?

ENGR.ECONOMIC ANALYSIS
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QUESTION 32
Consider a firm operating in a competitive market. The firm is producing 50 units of output,
has an average total cost of production equal to 7 dirhams, and is earning 350 dirhams
economic profit in the short run. What is the current market price?
Transcribed Image Text:QUESTION 32 Consider a firm operating in a competitive market. The firm is producing 50 units of output, has an average total cost of production equal to 7 dirhams, and is earning 350 dirhams economic profit in the short run. What is the current market price?
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