Suppose that the market price increases to $6, as shown in Table 8.14. What would happen

Chapter 8, Problem 4

(choose chapter or problem)

Suppose that the market price increases to $6, as shown in Table 8.14. What would happen to the profitmaximizing output level? Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Total Revenue Marginal Revenue 0 $62 $62 - - $0 - 10 $90 $62 $28 $2.80 $60 $6.00 20 $110 $62 $48 $2.00 $120 $6.00 30 $126 $62 $64 $1.60 $180 $6.00 40 $144 $62 $82 $1.80 $240 $6.00 50 $166 $62 $104 $2.20 $300 $6.00 60 $192 $62 $130 $2.60 $360 $6.00 70 $224 $62 $162 $3.20 $420 $6.00 80 $264 $62 $202 $4.00 $480 $6.00 90 $324 $62 $262 $6.00 $540 $6.00 100 $404 $62 $342 $8.00 $600 $6.00 Table 8.14

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