marginal and average total (net schedules for a perfectly competitive rm.
The firm’s short-run profit at this level of output is $_________ (Round your response to the nearest penny.) Use the graph below.
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The following table shows marginal and average total (net schedules for a perfectly competitive firm. Currently, the market price in this industry is $3. Output (u nits} Marginal Cost Average Total Cost
(Oi (MC) (AT0)
g _ _
1 2 12
2 4 B
3 E 5
4 B B
5 10 B A profit-maximizing firm will produce 4 units. {Enteryourrasponse as an images} The firm’s short—mn profit at this level of output is Fig. (Round your response to the neerestpenny)
