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Villerys39 Villerys39
wrote...
Posts: 476
5 years ago
Table 12-4

QuantityAverage Fixed CostAverage Variable CostMarginal Cost
 20$40$18$18
 40 20  14  10
 60    13.1  16  20
 80 10  22  40
100   8  30  62
120        6.61  40  90
Table 12-4 shows the short-run cost data of a perfectly competitive firm. Assume that output can only be increased in batches of 20 units.


Refer to Table 12-4. If the market price is $45 the firm will produce

• 60 units.

• 80 units.

• 100 units.

• 120 units.
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
Read 38 times
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Replies
wrote...
5 years ago
80 units.
Villerys39 Author
wrote...
5 years ago
Thanks
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