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    Given the $75 product price, at its optimal output the firm will

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    Total Total
    Total fixed variable Total
    product cost cost cost
    0 $50 $ 0 $ 50
    1 50 70 120
    2 50 120 170
    3 50 150 200
    4 50 220 270
    5 50 300 350
    6 50 390 440

    1. Refer to the above data. Given the $75 product price, at its optimal output the firm will:
    A. realize a $25 economic profit.
    B. realize a $30 economic profit.
    C. incur a $25 loss.
    D. realize a $30 loss.

    © BrainMass Inc. brainmass.com June 3, 2020, 4:57 pm ad1c9bdddf
    https://brainmass.com/business/business-management/optimal-output-economic-profit-9131

    Solution Summary

    The solution determines optimal output and economic profit.

    $2.19

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