What is the profit per unit for this firm at a quantity of nine (9) units? Price or cost $12 Marginal cost $11 $10 $9 $8 $7 "Average total cost Average $6 $5 $4 variable $3 cost H $2 Demand $1 $0 10 11 12 1314 15 16 17 18 19 20 21 Quantity $-1 $-2 $-3 $-4 Marginal $-5 revenue

What is the profit per unit for this firm at a quantity of nine (9) units? Price or cost $12 Marginal cost $11 $10 $9 $8 $7 "Average total cost Average $6 $5 $4 variable $3 cost H $2 Demand $1 $0 10 11 12 1314 15 16 17 18 19 20 21 Quantity $-1 $-2 $-3 $-4 Marginal $-5 revenue

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

a. $6.00 – $2.50 = $3.50

b. $2.50 – $3.50 = -$1.00

c. $6.50 – $2.00 = $4.50

d. $6.00 – $3.50 = $2.50

What is the profit per unit for this firm at a quantity of nine (9) units?
Price or cost
$12
Marginal
cost
$11
$10
$9
$8
$7
-Average
total cost
Average
$6
$5
$4
variable
$3
;cost
$2
Demand
$1
$0
10 11 12 1314.15 16 17 18 19 20.21
Quantity
$-1
$-2
$-3
$-4
Marginal
$-5
revenue
$-6

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