View the step-by-step solution to:

Question

In graph form, how do I calculate the profit maximizing level of output and the shutdown prices in the short/long

term run and the supply curve?


WK3 Pic.jpg

WK3 Pic.jpg

Widgets
Fixed Variable
Total
Average | Average | Marginal , Price
Profits
Produced
Costs
Costs
Costs
Variable
Total
Cost
= MR
Cost
Cost
O
25
0
25
0
0
0
10
-15
25
8
33
8.00
33.00
8.00
10
-23
25
15
40
7.50
20.00
7.00
10
-20
25
23
45
7.67
16.00
8.00
10
-15
25
32
57
8.00
14.25
9.00
10
-17
25
42
67
8.40
13.40
10.00
10
-17
25
53
78
8.83
13.00
11.00
10
-18
25
65
90
9.29
12.86
12.00
10
-20
25
78
103
9.75
12.88
13.00
10
-23
25
92
117
10.22
13.00
14.00
10
-27

Top Answer

View the full answer
5B368565-7FD2-40C0-9E15-8753870B62DA.jpeg

Q ( W ) | FC VC T C | AVC | A TC ) MCI price Profit
8
O
10
8,0
33 00
8.00
10
7 50
20, 00
10
32
767
16,00
8.00
8,00
10
14, 25
2,00
20
H2
8.40
13, YO
10
53
10
8, 83
13, 00
GST
11, 00
profit man .
10...

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online