calculating economic profit for pure competitive firm


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calculating economic profit for pure competitive firm 1 answer below » Assume that the cost data in the table below are for a purely competitive
producer: Cost Data View complete question » Total Average Average Average Marginal Price Price–ATC Product Fixed Cost Variable Cost Total Cost Cost 0 1 $25.00 $10.00 $35.00 $10.00 2 12.50 8.00 20.50 6.00 3 8.33 6.67 13.00 4.00 4 6.25 5.50 11.75 2.00 5 5.00 4.80 9.80 2.00 6 4.17 4.50 8.67 3.00 7 3.57 4.57 8.14 5.00 8 3.13 5.00 8.13 8.00 Assume that the cost data in the table below are for a purely competitive
producer: Cost Data Total Average Average Average Marginal Price Price–ATC Product Fixed Cost Variable Cost Total Cost Cost 0 1 $25.00 $10.00 $35.00 $10.00 2 12.50 8.00 20.50 6.00 3 8.33 6.67 13.00 4.00 4 6.25 5.50 11.75 2.00 5 5.00 4.80 9.80 2.00 6 4.17 4.50 8.67 3.00 7 3.57 4.57 8.14 5.00 8 3.13 5.00 8.13 8.00 9 2.78 6.00 8.76 14.00 10 2.50 7.50 10.00 21.00 Respond to the following: How much economic profit can be achieved at each level of output? If price
is $10.00 how much will be produced in the short run? Use the price of $4 to answer question a. Use the price of $14 to answer question a. View less » May 18 2014 09:00 AM

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