Answered: Tlite and Brite produce lamps which…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 39P: The AAA Aquarium Co. sells aquariums for 20 each. Fixed costs of production are 20. The total...

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Tlite and Brite produce lamps which they sell for $40.Tlite has fixed cost of $8000 less than Brite and average variable cost of $33, which is 10% more than Brite. Tlite has a break even output which is 15% less than Brite, and produces 25% less revenue than Brite. Tlite also makes $12000 less profit then Brite. Calculate the outputs of both the firms

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