Using the graph for the questions : A. There are fixed costs of $50 no matter what the output level is. Fill in the fixed cost column B. Fill in the total costs column C. Fill in the marginal costs column D. This is a perfectly compatible firm . The market price for the output they produce is $40/ unit of output. Fill in the marginal revenue column E. Fill in the total revenue column F. Fill in the profit column G. What is the profit maximizing level of output
Using the graph for the questions : A. There are fixed costs of $50 no matter what the output level is. Fill in the fixed cost column B. Fill in the total costs column C. Fill in the marginal costs column D. This is a perfectly compatible firm . The market price for the output they produce is $40/ unit of output. Fill in the marginal revenue column E. Fill in the total revenue column F. Fill in the profit column G. What is the profit maximizing level of output
Chapter16: The Markets For Labor, Capital, And Land
Section: Chapter Questions
Problem 17P
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Using the graph for the questions :
A. There are fixed costs of $50 no matter what the output level is. Fill in the fixed cost column
B. Fill in the total costs column
C. Fill in the marginal costs column
D. This is a perfectly compatible firm . The market price for the output they produce is $40/ unit of output. Fill in the marginal revenue column
E. Fill in the total revenue column
F. Fill in the profit column
G. What is the profit maximizing level of output
Transcribed Image Text:Units of
Output
owing questions, use the production table below:
Variable
Costs
OLN3456
0
1
2
Fixed
Costs
0
10
25
45
95
150
210
Total
Costs
Marginal Marginal
Costs
Revenue
--
Total
Revenue
Profit
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