I product price isnbsp80nbspat its optimal outputnbspwill

Reference no: EM13387264

Answer the question on the basis of the following cost data for a purely competitive seller:

        Total Product    TFC             TVC

              0              $100              $0

              1                100               70

              2                100            110

              3                100            185

              4                100            260

              5                100             350

              6              100             450

Refer to the data. If the product price is $80, 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: EM13387264

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