Homework answers / question archive / Suppose a firm has the following costs: Output (units) 10 11 12 13 14 15 16 17 18 19 Total cost ($) 50 52 56 62 70 80 92 106 122 140 a) If the prevailing market price is $14 per unit, how much should the firm produce? b) How much profit will it earn at that output rate? c) If the market price dropped to $2, how much should this firm produce? d) How much profit will it make at that lower price?

Suppose a firm has the following costs: Output (units) 10 11 12 13 14 15 16 17 18 19 Total cost ($) 50 52 56 62 70 80 92 106 122 140 a) If the prevailing market price is $14 per unit, how much should the firm produce? b) How much profit will it earn at that output rate? c) If the market price dropped to $2, how much should this firm produce? d) How much profit will it make at that lower price?

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Suppose a firm has the following costs:

a) If the prevailing market price is $14 per unit, how much should the firm produce?

b) How much profit will it earn at that output rate?

c) If the market price dropped to $2, how much should this firm produce?

d) How much profit will it make at that lower price?