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Homework answers / question archive / Brenda's Family Photos is a photographic portrait business in a perfectly competitive market in Duluth
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?
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