Prevailing marketplace price produced also sold

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Reference no: EM1320174

Q. Assume that a industry in a perfectly competitive organization has the subsequent total cost schedule:

Output Units Total Cost ($)
10 $110
15 150
20 180
25 225
30 300
35 385
40 480

a. Compute a marginal cost also an average cost schedule for the industry

b. If the prevailing marketplace price is $17 every unit, Elucidate how many units will be produced also sold? Illustrate what are profits every unit? Illustrate what are total profits?

c. Is the organization in long run equilibrium at this price?

Reference no: EM1320174

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