Posted by Pam on Thursday, September 23, 2010 at 7:38pm.
A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, average total cost of $8, and ficed costs of $200. What are the firm's profit, marginal cost, and average varible cost respectively?
Microeconomics - Pam, Thursday, September 23, 2010 at 10:29pm
Firm's Profit $200
Marginal Cost $10
Average Varible Cost Respectively $6
$200, $10, and $6
Microeconomics - jenny, Tuesday, September 20, 2011 at 1:53pm
How did you get that answer pam??