Assume a certain firm is producingQ=1,000 units ofoutput . At Q=1,000, the firm\

Question

Assume a certain firm is producingQ=1,000 units ofoutput . At Q=1,000, the firm's marginal cost equals $15 and itsaverage total cost equals$11. the firm sells its output for $12 perunit. 1. AtQ= 1,000, the firm's profit amounts to a.-$200 b.$1,000. c.$3,000 d.$4,000 2. At Q=999, the firms total cost amounts to a.$10,985. b.10,990. c.$10,995. d.$10,999 3. AtQ=999, the firms profit amounts to a.$993. b.$997 c.$1003. d.$1,007 Assume a certain firm is producingQ=1,000 units ofoutput . At Q=1,000, the firm's marginal cost equals $15 and itsaverage total cost equals$11. the firm sells its output for $12 perunit. 1. AtQ= 1,000, the firm's profit amounts to a.-$200 b.$1,000. c.$3,000 d.$4,000 2. At Q=999, the firms total cost amounts to a.$10,985. b.10,990. c.$10,995. d.$10,999 3. AtQ=999, the firms profit amounts to a.$993. b.$997 c.$1003. d.$1,007

Explanation / Answer

C,C,B

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