Question
1.Max Profit Inc, a profit maximizing firm in a competitive market is currently producing 1000 units of widgets.It has average revenue of $200, average total
1.Max Profit Inc, a profit maximizing firm in a competitive market is currently producing 1000 units of widgets.It has average revenue of $200, average total cost of $160 and fixed cost of $50,000.
a.What is its profit?
b.What is its marginal cost?
c.What is its average fixed cost?
d.What is its average variable cost?
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College Accounting Chapters 1-12
Authors: David D Busch, Tracie Nobles
11th Edition
1133710190, 978-1133710196
