You are given the following cost and revenue data for Parkin's Pickles,a perfectly competitive firm at it current output level.

a)What is the amount of profit or a loss?
b)Is the firm producing the optimal output? If not,should the firm produce more,less or not at all?

Question

You are given the following cost and revenue data for Parkin's Pickles,a perfectly competitive firm at it current output level.
  
a)What is the amount of profit or a loss?
b)Is the firm producing the optimal output? If not,should the firm produce more,less or not at all?

Quizplus · Accepted Answer

The Answer of You are given the following cost and revenue data for Parkin's Pickles,a perfectly competitive firm at it current output level.
  
a)What is the amount of profit or a loss?
b)Is the firm producing the optimal output? If not,should the firm produce more,less or not at all?

You Are Given the Following Cost and Revenue Data for Parkin's