A firm’s marginal revenue meets its marginal cost at an output of 550 units. At this output, the firm incurs an average
Posted: Sat Mar 19, 2022 5:48 pm
A firm’s marginal revenue meets its marginal cost at an output
of 550 units. At this output, the firm incurs an average fixed cost
of $2 and average variable cost of $4. Its average revenue is $9.
What is the total amount of profit earned by the firm?
of 550 units. At this output, the firm incurs an average fixed cost
of $2 and average variable cost of $4. Its average revenue is $9.
What is the total amount of profit earned by the firm?