Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If a firm wants to maximize her profit in the long-run, how many good will she produce, if the price is $15 in a competitive
If a firm wants to maximize her profit in the long-run, how many good will she produce, if the price is $15 in a competitive market? Q Revenue Variable Cost Total cost MR MC 1 $10 $20 $35 4 $53 5 $81 ONone of the choices O1 O2 05What is the marginal cost of producing the third good? Q Revenue Variable Cost Total cost MR MC 1 $10 2 $20 3 $35 4 $53 5 $81 O $1 O $7 O We need fixed cost to calculate it O $5 O$3
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started