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Suppose that the price of Pineapples is $2. In addition, suppose that the firm's total costs are $39 and that the firm currently sells 80 Pineapples.

Given this information, what is this firm's total revenue?

 

Hint


Suppose that the price of Apples is $4. In addition, suppose that the firm's total costs are $2 and that the firm currently sells 40 Apples.

Given this information, what is this firm's profits?

 

Hint




The table below shows data for the production of Pineapples for an individual firm operating in a perfectly competitive market.

Quantity of PineapplesTotal RevenueTotal Costs
0030
102050
204062
306071
408080
5010089
60120100
70140130
80160200

Given this data, what is the per unit price of Pineapples?

 

Hint


The table below shows data for the production of apples for an individual firm operating in a perfectly competitive market.

Quantity of applesTotal RevenueTotal Costs
0010
105030
2010040
3015060
4020090
50250130
60300180
70350240
80400310

Given this data, what are this firm's profits if it chooses to produce 20 apples?

 

 

Hint


The table below shows data for the production of avocados for an individual firm operating in a perfectly competitive market.

Quantity of avocadosTotal RevenueTotal Costs
0010
105030
2010040
3015060
4020090
50250130
60300180
70350240
80400310

Given this data, complete the table:

 Quantity of avocados  Profit
0
10
20
30
40
50
60
70
80


At what quantity does this firm maximize its profit?

NOTE: If there are two quantities with the same level of profits, pick the larger of the two quantities!



Hint


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