Quantity (pizzas per hour) Total cost, TC (dollars per hour) 18 30 48 1 2 3 12) Giuseppe's Pizza is a perfectly competitive firm. The firm's costs are shown in the table above. The price of a pizza is $12 and the variable cost of the first pizza is $8. If Giuseppe shut down, in the short run its economic loss is per hour. A) $0 B) $4 C) $10 D) $12 E) More information is needed to answer the question.

Quantity (pizzas per hour) Total cost, TC (dollars per hour) 18 30 48 1 2 3 12) Giuseppe's Pizza is a perfectly competitive firm. The firm's costs are shown in the table above. The price of a pizza is $12 and the variable cost of the first pizza is $8. If Giuseppe shut down, in the short run its economic loss is per hour. A) $0 B) $4 C) $10 D) $12 E) More information is needed to answer the question.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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