Post a New Question


posted by on .

Consider a competitive firm that produces tomatoes. The total fixed costs are $10 and TVC is related to output according to the followin scheduele

Quantity TVC
0 0
1 45
2 85
3 120
4 150
5 170

1)Compute ATC and MC
2) What is quantity if P=40
3)what is quantity if P=30
4)What is profit if P=35
5)What is relationship between marginal costs and the firms supply curve?

  • Microeconomics - ,

    Take a shot. What do you think.
    Hints: The change in TVC is MC. The firm will maximize when P=MC

Answer This Question

First Name:
School Subject:

Related Questions

More Related Questions

Post a New Question