If the product price is 105 at its optimal output will the, Ask an Expert

Economics

Answer the next question on the basis of the following cost data for a purely competitive seller: Total Product TFC TVC 0 $50 $0 1 50 70 2 50 120 3 50 150 4 50 220 5 50 300 6 50 390 Refer to the above data. If the product price is $105, at its optimal output will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9439308

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