if firms produces 70 units when price 6 then economic profits would be

Graph with $ on the y-axis and quantity on the x-axis and three curves: an MC curve, an ATC curve and a horizontal line at P = $6 which is labelled as the demand curve facing this firm (it is perfectly elastic).. The MC curve initially falls, runs through (10, $6) and bottoms out at (30, $2) before rising again ... it hits the bottom of the ATC curve at (50, $4.50 (estimate)). It continues to rise through (60,$6) . The ATC falls from (30, $6) to (50, $4.50) and then rises through points (60, $5) and (70, $6).

if the firms produces 70 units when price = $6, then economic profits would be:

"Is this question part of your assignment? We can help"

ORDER NOW