Answer the question on the basis of the accompanying table that shows average total costs (ATC)for a manufacturing firm whose total fixed costs are $10: $$\begin{array} { c r }
\text { Output } & \text { ATC } \
\hline 1 & \$ 40 \
2 & 27 \
3 & 29 \
4 & 31 \
5 & 38
\end{array}$$ Refer to the data.The profit-maximizing level of output for this firm:

Question

Answer the question on the basis of the accompanying table that shows average total costs (ATC)for a manufacturing firm whose total fixed costs are $10: $$\begin{array} { c r } 
\text { Output } & \text { ATC } \
\hline 1 & \$ 40 \
2 & 27 \
3 & 29 \
4 & 31 \
5 & 38
\end{array}$$ Refer to the data.The profit-maximizing level of output for this firm:

Quizplus · Accepted Answer

The profit-maximizing level of output cannot be determined solely from the average total costs (ATC) without information on the selling price per unit or the marginal costs and revenues.

Answer the Question on the Basis of the Accompanying Table Output ATC 1$40227329431538\begin{array} { c r } \text { Output } & \text { ATC } \\\hline 1 & \$ 40 \\2 & 27 \\3 & 29 \\4 & 31 \\5 & 38\end{array} Output 12345​ ATC $4027293138​​

Answer the Question on the Basis of the Accompanying Table $\begin{array} { c r } \text { Output } & \text { ATC } \\\hline 1 & \$ 40 \\2 & 27 \\3 & 29 \\4 & 31 \\5 & 38\end{array}$