Saturday
July 26, 2014

Homework Help: home economics

Posted by tom on Friday, November 2, 2012 at 7:54pm.

a firm produces 20 units of output at a market price of #5, a marginal cost of $5, and an average cost of $3. what is the firms economic profit and is the firm maiximizing its economic profit.

Is the formula market price-average cost x quantity 20?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

economics - 5. A market contains a group of identical price-taking firms. Each ...
Economics - The market for fertilizer is perfectly competitive. Firms in the ...
Economics - Yeah, so I'm in urgent need of help with this homework. 1. Assume ...
Economics/Math - In a perfectly competitive industry, the market price is $25. A...
Economic - How is income distribution affected in monopolies? The market for ...
economics - perfectly competitive industry. Each firm having identical cost ...
Economics - 10. An industry currently has 100 firms, all of which have fixed ...
economics - A profit-maximizing firm in a competitive market is currently ...
economics - The graph on the left shows the short-run marginal cost curve for a ...
economics - Output Fixed Cost Variable Cost 1 $5 $10 2 $5 $27 3 $5 $55 4 $5 $91 ...

Search
Members