A competitive firm has estimated its average variable cost function as
Its total fixed cost is $500.
-To maximize its profit the firm should produce ___________ units of output. Profit (loss) is $____________.
Suppose the forecasted price is P = $14.94.

Question

A competitive firm has estimated its average variable cost function as
  Its total fixed cost is $500.
-To maximize its profit the firm should produce ___________ units of output. Profit (loss) is $____________.
Suppose the forecasted price is P = $14.94.

Quizplus · Accepted Answer

The Answer of A competitive firm has estimated its average variable cost function as
  Its total fixed cost is $500.
-To maximize its profit the firm should produce ___________ units of output. Profit (loss) is $____________.
Suppose the forecasted price is P = $14.94.

A Competitive Firm Has Estimated Its Average Variable Cost Function