A milk company in a perfectly competitive industry is producing 10,000 gallons of milk,its profit-maximizing quantity.Industry price for a gallon of milk is $3.50,total fixed costs are $5,000,and total variable costs are $10,000.The firm's economic profit is

Question

Quizplus · Accepted Answer

The Answer of A milk company in a perfectly competitive industry is producing 10,000 gallons of milk,its profit-maximizing quantity.Industry price for a gallon of milk is $3.50,total fixed costs are $5,000,and total variable costs are $10,000.The firm's economic profit is

A Milk Company in a Perfectly Competitive Industry Is Producing