| 15. | A competitive firm sells its output for $20 per unit. The 50th unit of output produced has a marginal cost of $22. If the firm sells the 50th unit, it will experience a change in profit equal to _____ |
| $ ___
Please enter a whole number, with no decimal point.(- or +) | |
| 15. | A competitive firm sells its output for $20 per unit. The 50th unit of output produced has a marginal cost of $22. If the firm sells the 50th unit, it will experience a change in profit equal to _____ |
| $ ___
Please enter a whole number, with no decimal point.(- or +) | |
The change in profit will be equal to = Price of a unit - Marginal cost = $20 - $22 = -$2
So, -2 is the answer.
Homework Sourse
