| Author: | Homework Help Classof1 | ISBN: | 1230000116723 |
| Publisher: | Classof1 | Publication: | March 21, 2013 |
| Imprint: | Language: | English |
| Author: | Homework Help Classof1 |
| ISBN: | 1230000116723 |
| Publisher: | Classof1 |
| Publication: | March 21, 2013 |
| Imprint: | |
| Language: | English |
"a) At this output level, calculate the average cost and the marginal cost.
b) Draw a diagram showing the current situation of the firm.
c) In addition to the above information, suppose the price of the output is $13/unit, if the firm wants to maximize its profit, what should it do? Explain in detail with the aid of a diagram.
d) Suppose the price of the output is $16/unit instead, if the firm wants to maximize its profit, what should it do? Explain in detail with the aid of a diagram.
"
"a) At this output level, calculate the average cost and the marginal cost.
b) Draw a diagram showing the current situation of the firm.
c) In addition to the above information, suppose the price of the output is $13/unit, if the firm wants to maximize its profit, what should it do? Explain in detail with the aid of a diagram.
d) Suppose the price of the output is $16/unit instead, if the firm wants to maximize its profit, what should it do? Explain in detail with the aid of a diagram.
"
