Determine firm-s profit amounts, Microeconomics

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Determine firm-s profit amounts

Assume a certain competitive price-taker firm is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit.At Q = 1,000, the firm's profit amounts to?

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Microeconomics: Determine firm-s profit amounts

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Microeconomics: Determine firm-s profit amounts

Reference No:- TGS050653

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Determining the binomial option pricing model

Q : Cost of equity for supply

Q : What is the amount of post-retirement expense

Q : Implications of the information for revenues

Q : Determine firm-s profit amounts

Q : What is the amount of pension expense

Q : Estimating the customer borrowing base

Q : Problem regarding cutting their losses

Q : What is the amount of pension expense to be reported

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Determine firm-s profit amounts

Reference No:- TGS050653

Recent Questions Asked Microeconomics

Q : Determining the binomial option pricing model

Q : Cost of equity for supply

Q : What is the amount of post-retirement expense

Q : Implications of the information for revenues

Q : Determine firm-s profit amounts

Q : What is the amount of pension expense

Q : Estimating the customer borrowing base

Q : Problem regarding cutting their losses

Q : What is the amount of pension expense to be reported

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