Market for Athletic Apparel $24 $22 $20 $18 $16 $14 $12 $10 $8 $6 $4 $2 Costs and Revenues (dollars) 0 20 20 40 40 MC ATC 60 50 D MR 80 80 100 120 140

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Question

Enter your answer as a whole number. If you are entering a negative number include a minus sign.

 

a. To maximize its profits, the firm should produce  units and charge a price of $  .

 

b. At the profit-maximizing level of output, average total cost per unit is $  .

 

c. At its profit-maximizing level, profits are $  .

Market for Athletic Apparel
$24
$22
$20
$18
$16
$14
$12
$10
$8
$6
$4
$2
Costs and Revenues (dollars)
0
20
20
40
40
MC
ATC
60
50
D
MR
80
80
100 120 140
Transcribed Image Text:Market for Athletic Apparel $24 $22 $20 $18 $16 $14 $12 $10 $8 $6 $4 $2 Costs and Revenues (dollars) 0 20 20 40 40 MC ATC 60 50 D MR 80 80 100 120 140
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