Find how much will the profit or loss be

Reference no: EM13206414

OUTPUT ------ TFC ---------- TVC ---------------MC
0 $100.00 0.00
1 100.00 70.00 70
2 100.00 120.00 50
3 100.00 150.00 30
4 100.00 200.00 50
5 100.00 270.00 70
6 100.00 360.00 90

(a.) Refer to the above data. If the product price is $25 at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.

(b.) Refer to the above data. If the product price is $55, at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.

Reference no: EM13206414

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