15. A competitive firm sells its output for $20 per unit. The 50th unit of outpu

Question

15.   A competitive firm sells its output for $20 per unit. The 50th unit of output produced has a marginal cost of $22. If the firm sells the 50th unit, it will experience a change in profit equal to _____ $ ___
Please enter a whole number, with no decimal point.(- or +) 15.   A competitive firm sells its output for $20 per unit. The 50th unit of output produced has a marginal cost of $22. If the firm sells the 50th unit, it will experience a change in profit equal to _____ $ ___
Please enter a whole number, with no decimal point.(- or +)

Explanation / Answer

The change in profit will be equal to = Price of a unit - Marginal cost = $20 - $22 = -$2

So, -2 is the answer.

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