Microeconomics

Quantity Total cost, TC MC MR Total revenue Economic Profit (pizzas per hour) (dollars per hour) 0 10 -10 18 8 12 12 -6 30 12 12 24 48 18 12 36 -12 Giuseppe's Pizza is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price is $12, answer the following. a. What is the firm economic profit at equilibrium point? b. What is the level of equilibrium? a. -6 b. It is an economic loss B a. +6 b. It is an economic loss C a. 8 b. It is an economic profit D a. -8 b. it is an economic loss