Compute the firms total revenue and total cost

Reference no: EM131447268

Perfect Competition Assignment

List the assumptions of the perfectly competitive model:

Graphing Problem: assume the market price is $14. Use the graph below to identify the perfectly competitive firm's profit-maximizing or loss-minimizing level of output (Q).

Calculate the firm's total revenue (TR), total cost (TC), and profit assuming the firm produces this level of output.

Q = __________ TR = $__________ TC = $__________ Profit = $__________

Reference no: EM131447268

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