(Table: Costs for Alina's Apple Pies) Use the table Costs for Alina's Apple Pies. If Alina's Apple Pies operates in a perfectly competitive market and the market price for a pie is $38, what profit (or loss) will this firm earn?Possible solutions a profit of $80a loss of $30a profit of $200 Table: Costs for Alina's Apple PiesFixedMarginal Cost Average TotalCostQuantityVariableTotal Cost1,0002,0003,0004,0005,0006,0007,0008,0009,00010,000$100$100$100$100$100$100$100$100S100$100$100S2S8$18$32$50$72$98$100$102$108S118$132$150$172$198$2$6$10$14$18$22$26$30$34$38$102.00$54.00$39.33$33.00$30.00$28.67$28.28$28.50$29.11$30.00$128$162$200$228$262$300

For a perfectly competitive firm, profit-maximizing quantity is such quantity where the price is…

Answered: (Table: Costs for Alina's Apple Pies)…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 23RQ: Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost,...

See similar textbooks

Related questions

Question

(Table: Costs for Alina's Apple Pies) Use the table Costs for Alina's Apple Pies. If Alina's Apple Pies operates in a perfectly competitive market and the market price for a pie is $38, what profit (or loss) will this firm earn?
Possible solutions

a profit of $80

a loss of $30

a profit of $200

Table: Costs for Alina's Apple Pies
Fixed
Marginal Cost Average Total
Cost
Quantity
Variable
Total Cost
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
$100
$100
$100
$100
$100
$100
$100
$100
S100
$100
$100
S2
S8
$18
$32
$50
$72
$98
$100
$102
$108
S118
$132
$150
$172
$198
$2
$6
$10
$14
$18
$22
$26
$30
$34
$38
$102.00
$54.00
$39.33
$33.00
$30.00
$28.67
$28.28
$28.50
$29.11
$30.00
$128
$162
$200
$228
$262
$300

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions