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Suppose that a firm is currently maximizing its short-run profit at an output of 50 units. If the current price is $9, the marginal cost of the 50th unit is $9, and the average total cost of producing
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Suppose that a firm is currently maximizing its short-run profit at an output of 50 units. If the current price is $9, the marginal cost of the 50th unit is $9, and the average total cost of producing 50 units is $4, what is the firm's profit

User Logcat
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3 votes

Answer:

$250

Step-by-step explanation:

Profit = Total revenue - Total cost

Profit = ($9*50 units) - ($4*50 units)

Profit = $450 - $200

Profit = $250

Thus, the firm's profit will be $250.

User Ghdalum
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