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 $18, how many pies should Alina's Apple Pies produce and what is the economic profit or loss per unit? (Table: Costs for Alina's Apple Pies) Use the table Costs for Alina's ApplePies. If Alina's Apple Pies operates in a perfectly competitive market andthe market price for a pie is $38, what profit (or loss) will this firm earn?Table: Costs for Alina's Apple PiesFixedQuantityVariableTotal CostMarginal CostAverage TotalCost1,0002,0003,0004,0005,0006,0007,0008,0009,00010,000$100S100S100$100$100$100$100$100$100$100$100S2S8$18$32$50$72S98$128$162$200S100-S102$108$118S132$150$172$198$228$262$300$2S6S10$14$18$22S26$30$34$38S102.00$54.00$39.33$33.00$30.00$28.67$28.28$28.50$29 11$30.00O a profit of $200

Difference between total revenue and total cost gives the economic profit of a firm.

Answered: Use the table Costs for Alina's Apple…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter8: Perfect Competition

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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 $18, how many pies should Alina's Apple Pies produce and what is the economic profit or loss per unit?

(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?
Table: Costs for Alina's Apple Pies
Fixed
Quantity
Variable
Total Cost
Marginal CostAverage Total
Cost
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
$100
S100
S100
$100
$100
$100
$100
$100
$100
$100
$100
S2
S8
$18
$32
$50
$72
S98
$128
$162
$200
S100-
S102
$108
$118
S132
$150
$172
$198
$228
$262
$300
$2
S6
S10
$14
$18
$22
S26
$30
$34
$38
S102.00
$54.00
$39.33
$33.00
$30.00
$28.67
$28.28
$28.50
$29 11
$30.00
O a profit of $200

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