Question
Decision Point: Considering Managerial Diseconomies: Finding Current Profits Now that you have identified the profit-maximizing output level, what is your firm's current economic profit?
Decision Point: Considering Managerial Diseconomies: Finding Current Profits Now that you have identified the profit-maximizing output level, what is your firm's current economic profit? Costs at Your Current Farm with One Farm Output (Trees Harvested) 500 1000 1500 2000 2500 3000 Marginal Cost 20 40 60 80 100 120 Average Total Cost 30 21 31 42 51 60 Costs at Your Currem with Two Average Total Marginal Cost Cost 30 50 80 115 155 200 Type a value into the blank space provided below, and click Submit. MR = $80 per tree Profit maximizing = 2000 trees
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