The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a firm are shown in the figure below. The market price is $26. Instructions: Use the tool provided (Pt. A) to identify the profit-maximizing output. Then use the tool "Profit" to draw the area of profit (or loss) that occurs at this level of output. Position this rectangle by dragging on the vertices. Price/Cost ($) 50 Tools MC 40 Pt. A Profit ATC 30 AVC 20 10 10 20 30 40 50 Quantity Instructions: Round your answer to the nearest whole number. Use a negative sign if necessary. At the profit-maximizing level of output, average total cost is $ and profit is $
The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a firm are shown in the figure below. The market price is $26. Instructions: Use the tool provided (Pt. A) to identify the profit-maximizing output. Then use the tool "Profit" to draw the area of profit (or loss) that occurs at this level of output. Position this rectangle by dragging on the vertices. Price/Cost ($) 50 Tools MC 40 Pt. A Profit ATC 30 AVC 20 10 10 20 30 40 50 Quantity Instructions: Round your answer to the nearest whole number. Use a negative sign if necessary. At the profit-maximizing level of output, average total cost is $ and profit is $
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
ChapterB: Differential Calculus Techniques In Management
Section: Chapter Questions
Problem 5E
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