Calculate Pats profit-maximizing output and economic profit if the market price is Pats Pizza Kitchen is a

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Calculate Pat€™s profit-maximizing output and economic profit if the market price is
Pat€™s Pizza Kitchen is a price taker. Its costs are

(i) $14 a pizza.
(ii) $12 a pizza.
(iii) $10 a pizza.

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Dec 15, 2015 07:17 AM

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Calculate Pats profit-maximizing output and economic profit if the market price is Pats Pizza Kitchen is a

Question:

Output (pizzas per hour dollars per hour) Total cost 10 21 30 41 54 69

Step by Step Answer:

i At 14 a pizza Pats profitmaximizing output is 4 pizzas an hour and economic profit is 2 an hour Pats maximizes its profit by producing the quantity ...View the full answer

Microeconomics

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