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Assume that the cost data in the table below are for a purely-(Answered)

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Assume that the cost data in the table below are for a purely competitive producer:

Cost Data?
? ? ? ? ? ? $25.00 $10.00 $35.00 $10.00 ? ? 12.50 8.00 20.50 6.00 ? ? 8.33 6.67 13.00 4.00 ? ? 6.25 5.50 11.75 2.00 ? ? 5.00 4.80 9.80 2.00 ? ? 4.17 4.50 8.67 3.00 ? ? 3.57 4.57 8.14 5.00 ? ? 3.13 5.00 8.13 8.00 ? ? 2.78 6.00 8.76 14.00 ? ? 2.50 7.50 10.00 21.00 ? ?

Respond to the following:

  1. How much economic profit can be achieved at each level of output? If price is $10.00, how much will be produced in the short run?
  2. Using the price of $4, answer the previous questions.
  3. Using the price of $14, answer the previous questions.

 

Paper#9255576 | Written in 27-Jul-2016

Price : $16
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