Question
Output (units): 10 11 12 13 14 15 16 17 18 19 Total Cost: $50 $52 $56 $62 $70 $80 $92 $106 $122 $140 Marginal
Output (units):
10
11
12
13
14
15
16
17
18
19
Total Cost:
$50
$52
$56
$62
$70
$80
$92
$106
$122
$140
Marginal Cost
(a) Calculate the Marginal cost. If the prevailing market price is $16 per unit, how much should the firm produce?
(b) How much is the Total profit earn at that output rate?
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Plenitude The New Economics Of True Wealth
Authors: Juliet Schor
1st Edition
1594202540, 9781594202544
