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The information below applies to a competitive firm that sells its output for $40 per unit. When the firm produces and sells 150 units of
The information below applies to a competitive firm that sells its output for $40 per unit.
When the firm produces and sells 150 units of output, its average total cost is $24.50.
When the firm produces and sells 151 units of output, its average total cost is $24.55.
When the firm increases its output from 150 units to 151 units, its profit: [Write the dollar amount rounded to one cent and if a decrease, use the minus sign or brackets to indicate its sign.]
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