PSU ECON 104 Homework 3 - Points Awarded 91.75 Points...

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Points Awarded 91.75 Points Missed 8.25 Percentage 91.8% 1. SCENARIO B: Suppose that due to favorable economic conditions, the price that this firm can sell its product for rises to $22. For question 1. Fill in Table B - Each box is worth ½ point for a total of 9 points for Table B TABLE B- The wage is still $150 and the price of output (Q) is now $22. L Q MP L MRP Marginal Profit Total Profit 0 0 ---- ---- ------------- 0 1 8 8 $ 176 $ 26 $ 26 2 20 12 $ 264 $ 114 $ 140 3 28 8 $ 176 $ 26 $ 166 4 35 7 $ 154 $ 4 $ 170 5 41 6 $ 132 $ -18 $ 152 6 45 4 $ 88 $ -62 $ 90 Table for Individual Question Feedback Points Earned: 9.0/9.0 Correct Answer(s): Box 1: 176; Box 2: 26; Box 3: 26; Box 4: 264; Box 5: 114; Box 6: 140; Box 7: 176; Box 8: 26; Box 9: 166; Box 10: 154; Box 11: 4; Box 12: 170;
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