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MC $30 MR ATC Dollars AVC 20 15 75 80 100 Output Use the graph to answer these questions: a) What is the profit-maximizing level

MC $30 MR ATC Dollars AVC 20 15 75 80 100 Output Use the graph to answer these questions: a) What is the profit-maximizing level of output? Why? b) What is the economic profit? (show your calculation process) c) What is the per-unit amount of profit at the profit-maximizing level of output? (show your calculation process) d) At what price would the firm decide to shut down? Why? Edit View Insert Format Tools Table 12pt Paragraph B J U A & V T2 V 8 v

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