Solution-Purely competitive producer

Purely competitive producer

Reference no: EM131066002

Assume that the cost data in the table below are for a purely competitive producer:

Cost Data

$25.00 $10.00 $35.00 $10.00 12.50 8.00 20.50 6.00 8.33 6.67 13.00 4.00 6.25 5.50 11.75 2.00 5.00 4.80 9.80 2.00 4.17 4.50 8.67 3.00 3.57 4.57 8.14 5.00 3.13 5.00 8.13 8.00 2.78 6.00 8.76 14.00 2.50 7.50 10.00 21.00

Respond to the following:

How much economic profit can be achieved at each level of output? If price is $10.00, how much will be produced in the short run?
Using the price of $4, answer the previous questions.
Using the price of $14, answer the previous questions.

Reference no: EM131066002

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Purely competitive producer

Reference no: EM131066002

Reference no: EM131066002

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