Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Please help with question 5b. I already tried putting it in 8 which is wrong.
![(a) Calculate the firm's total profit.
Instructions: Round your answer to the nearest whole number.
Total profit: $
4
(b) If the firm operates at optimum efficiency, how much will its output be?
Instructions: Round your answer to the nearest whole number.
Optimum output:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3324af30-8889-4199-9984-92de885affae%2F8ed7f597-cdfb-4fb8-b606-c399d9a4d941%2F81u44pd_processed.png&w=3840&q=75)
Transcribed Image Text:(a) Calculate the firm's total profit.
Instructions: Round your answer to the nearest whole number.
Total profit: $
4
(b) If the firm operates at optimum efficiency, how much will its output be?
Instructions: Round your answer to the nearest whole number.
Optimum output:
![Using the data in the graph below, answer the following questions.
17
MC
16
15
АТС
14
13
12
D
11
MR
10
0 2
4
6.
8
10
12
14 16
Output
Price ($)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3324af30-8889-4199-9984-92de885affae%2F8ed7f597-cdfb-4fb8-b606-c399d9a4d941%2Ff8ikiig_processed.png&w=3840&q=75)
Transcribed Image Text:Using the data in the graph below, answer the following questions.
17
MC
16
15
АТС
14
13
12
D
11
MR
10
0 2
4
6.
8
10
12
14 16
Output
Price ($)
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