The table to the right gives the per unit cost data for a shirt manufacturer in a competitive industry If the market price is $10.58, how much profit is this firm making per minute? per minute (Round your answer to the nearest penny.) 4 Output (per minute) 49 59 69 79 89 99 109 AVC ATC 2.98 7.06 3.26 6.65 3.74 6.64 4.42 6.95 4.42 7.55 5,30 8.40 6.38 9.50 MC 3.86 5.50 7.74 10.58 14.02 18.06 22.70

The table to the right gives the per unit cost data for a shirt manufacturer in a competitive industry If the market price is $10.58, how much profit is this firm making per minute? per minute (Round your answer to the nearest penny.) 4 Output (per minute) 49 59 69 79 89 99 109 AVC ATC 2.98 7.06 3.26 6.65 3.74 6.64 4.42 6.95 4.42 7.55 5,30 8.40 6.38 9.50 MC 3.86 5.50 7.74 10.58 14.02 18.06 22.70

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter10: The Firm And The Industry Under Perfect Competition

Section: Chapter Questions

Problem 4TY

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