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Brenda's Family Photos is a photographic portrait business in a perfectly competitive market in Duluth

Economics

Brenda's Family Photos is a photographic portrait business in a perfectly competitive market in Duluth. The market price of a portrait is $35.

The Table shows Brenda's total costs.

 

Quantity (portraits per hour) Total Cost (dollars per hour)
0 50
1 90
2 120
3 140
4 170
5 210
6 270

 

a. How many portraits does Brenda sell in an hour?

b. What is Brenda's economic profit in the short run?

Option 1

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