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11-16 are based on the following table which gives the variable cost of producing at the diff levels of output of a commodity that a competitive firm might produce :
output variable cost of production
0 0
1 25
2 42
3 54
4 64
5 75
6 93
7 112
8 140
9 180
10 230
sunk cost of production in short run is 15
ques : if price of commodity is 17 then profit maximization level of output is?
ques : if price of the commodity is 17 ,thn at profit maximaization level of output of the firm
a. incurs a loss of 5
b. incurs a loss of 15
c.makes a profit of 7
d.none of the above
plz tell me how to solve the above ques
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