Figure 7-H
-Complete the chart below for a firm that is operating under conditions of perfect competition where the market price is $22.What level of output maximizes the firm's profits?
$$\begin{array} { | c | c | c | c | c | c | c | }
\hline \text { Quantity } & \text { Price } & \begin{array} { c }
\text { Tatal } \
\text { Revenue }
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { Revenua }
\end{array} & \begin{array} { c }
\text { Margiral } \
\text { Cast }
\end{array} & \begin{array} { c }
\text { Trtal } \
\text { Cast }
\end{array} & \begin{array} { c }
\text { Trtal } \
\text { Prafit }
\end{array} \
\hline 20 & & & & 16 & 389 & \
\hline 21 & & & & & 407 & \
\hline 22 & & & & & 427 & \
\hline 23 & & & & & 454 & \
\hline 24 & & & & & 484 & \
\hline
\end{array}$$

Question

Figure 7-H 
-Complete the chart below for a firm that is operating under conditions of perfect competition where the market price is $22.What level of output maximizes the firm's profits?
 $$\begin{array} { | c | c | c | c | c | c | c | } 
\hline \text { Quantity } & \text { Price } & \begin{array} { c } 
\text { Tatal } \
\text { Revenue }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Revenua }
\end{array} & \begin{array} { c } 
\text { Margiral } \
\text { Cast }
\end{array} & \begin{array} { c } 
\text { Trtal } \
\text { Cast }
\end{array} & \begin{array} { c } 
\text { Trtal } \
\text { Prafit }
\end{array} \
\hline 20 & & & & 16 & 389 & \
\hline 21 & & & & & 407 & \
\hline 22 & & & & & 427 & \
\hline 23 & & & & & 454 & \
\hline 24 & & & & & 484 & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Figure 7-H 
-Complete the chart below for a firm that is operating under conditions of perfect competition where the market price is $22.What level of output maximizes the firm's profits?
 $$\begin{array} { | c | c | c | c | c | c | c | } 
\hline \text { Quantity } & \text { Price } & \begin{array} { c } 
\text { Tatal } \
\text { Revenue }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Revenua }
\end{array} & \begin{array} { c } 
\text { Margiral } \
\text { Cast }
\end{array} & \begin{array} { c } 
\text { Trtal } \
\text { Cast }
\end{array} & \begin{array} { c } 
\text { Trtal } \
\text { Prafit }
\end{array} \
\hline 20 & & & & 16 & 389 & \
\hline 21 & & & & & 407 & \
\hline 22 & & & & & 427 & \
\hline 23 & & & & & 454 & \
\hline 24 & & & & & 484 & \
\hline
\end{array}$$

Figure 7-H -Complete the Chart Below for a Firm

Figure 7-H
-Complete the Chart Below for a Firm