The figure given below shows the cost curves of a firm. Figure 22.3 ATC: Average Total Cost
AVC: Average Variable Cost
MC: Marginal Cost
In Figure 22.3, if the marginal revenue of the firm is constant at $55, calculate the profit earned by the firm?
A)$35
B)$40
C)$600
D)$4, 800
E)$0

Question

The figure given below shows the cost curves of a firm. Figure 22.3  ATC: Average Total Cost
AVC: Average Variable Cost
MC: Marginal Cost
In Figure 22.3, if the marginal revenue of the firm is constant at $55, calculate the profit earned by the firm?
A)$35 
B)$40 
C)$600 
D)$4, 800 
E)$0

Quizplus · Accepted Answer

The Answer of The figure given below shows the cost curves of a firm. Figure 22.3  ATC: Average Total Cost
AVC: Average Variable Cost
MC: Marginal Cost
In Figure 22.3, if the marginal revenue of the firm is constant at $55, calculate the profit earned by the firm?
A)$35 
B)$40 
C)$600 
D)$4, 800 
E)$0

The Figure Given Below Shows the Cost Curves of a Firm