Question
Complete the following table. Round your answers in the ATC column to two decimal places Q 1,2,3,4,5,6,7,8 P 70,69,68,67,66,65,64,63 TR MR TC 95,164,222,275,330,390,454,522 MC ATC
Complete the following table. Round your answers in the ATC column to two decimal places
Q 1,2,3,4,5,6,7,8
P 70,69,68,67,66,65,64,63
TR
MR
TC 95,164,222,275,330,390,454,522
MC
ATC
B what is the profit maximizing price and output? Is this a long - run equilibrium? Why or why not?
C What type of market must the barber shop be operating in? Why?
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Microeconomics
Authors: Robert Pindyck, Daniel Rubinfeld
8th edition
978-0132870436, 132870436, 013285712X, 978-0133371178, 133371174, 978-0132857123
