Find the profit-maximizing rate of output for firm, Microeconomics

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Find the profit-maximizing rate of output for firm

Assume that the price of silk ties in a perfectly competitive market is $19 and that the typical firm confronts the following costs:

Quantity

(ties per day) 0 1 2 3 4 5 6 7 8 9 10

Total cost $10 $17 $26 $37 $50 $65 $82 $101 $122 $145 $170

(a) What is the profit-maximizing rate of output for the firm?

(b) How much profit does the firm earn at that rate of output?

(d) At what price should the firm shut down?

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Microeconomics: Find the profit-maximizing rate of output for firm

Reference No:- TGS0513437

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Microeconomics: Find the profit-maximizing rate of output for firm

Reference No:- TGS0513437

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Microeconomics: Find the profit-maximizing rate of output for firm

Reference No:- TGS0513437

Recent Questions Asked Microeconomics

Q : Explain imperfect-oligopolistic-monopolistic competition

Q : Ethical considerations with regard to marketing to children

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