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parneetgill parneetgill
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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 earn a profit of $3,600.

• will suffer a loss of $200.

• will break even.

• will earn profit of $1,040.
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Microeconomics

Microeconomics


Edition: 7th
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Strategyboyz21Strategyboyz21
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