Estimate the Average Cost

Business & Finance, Economics, Microeconomics
Cover of the book Estimate the Average Cost by Homework Help Classof1, Classof1
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Author: Homework Help Classof1 ISBN: 1230000116723
Publisher: Classof1 Publication: March 21, 2013
Imprint: Language: English
Author: Homework Help Classof1
ISBN: 1230000116723
Publisher: Classof1
Publication: March 21, 2013
Imprint:
Language: English

"a) At this output level, calculate the average cost and the marginal cost.
b) Draw a diagram showing the current situation of the firm.
c) In addition to the above information, suppose the price of the output is $13/unit, if the firm wants to maximize its profit, what should it do?   Explain in detail with the aid of a diagram.
d) Suppose the price of the output is $16/unit instead, if the firm wants to maximize its profit, what should it do?   Explain in detail with the aid of a diagram.
"

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"a) At this output level, calculate the average cost and the marginal cost.
b) Draw a diagram showing the current situation of the firm.
c) In addition to the above information, suppose the price of the output is $13/unit, if the firm wants to maximize its profit, what should it do?   Explain in detail with the aid of a diagram.
d) Suppose the price of the output is $16/unit instead, if the firm wants to maximize its profit, what should it do?   Explain in detail with the aid of a diagram.
"

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