Homework: Chapter 9 HomeWU Score: 0 of 1 pt Text Problem 3.4a HW Score: 55.56%,

Question

Homework: Chapter 9 HomeWU Score: 0 of 1 pt Text Problem 3.4a HW Score: 55.56%, 15 of 27 pts 170f 27 (15complete) E Question Heip 8200380 475 72.5 70 200 4645.se zam as 10 200 27 620 76 98 Using the information in the table, il in the tollowing supply schedule for this individual fim each hypothetical perlect competition and indicate profit (positive, zero, or negative) at each output level. (Hint: A price, what is the MR of producing 1 more unit of output? Combine this with the MC of another unit to figure out the quantity supplied.) Price Supplied 17 29 57 71 87 102 r your answer in the edt flelds and then click Check Answer arts showing Clear Al Check Answer

Explanation / Answer

Price Quantity supplied Profit TC 0 17 4 -316 384 29 5 -267 412 44 6 -190 454 57 7 -111 510 71 8 -12 580 87 9 119 664 102 10 258 762 Using the table containing cost one can fill in the table. The firm will supply till price is greater than or equal to MC. Profit = TR-TC.

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