Refer to the Figure above. If this farmer produces the profit maximizing level o

Question

Refer to the Figure above. If this farmer produces the profit maximizing level of when the market price is $ 18 per her total cost would be $1, 2000, $2,800. $5,600. $6,300. Refer to the Figure above. If this farmer profit maximizing quantity. When the marker price is her profit is $0. $24 $20 $18 $4 Refer to the information provided in Figure below to answer the questions that follow. Below are drawn cost curves for Clips Ahoy Barber Shop, a monopolistically competitive firm. Refer to the Figure above. The profit maximizing number of haircuts for the C Ahoy Barber Shop is 20 23 25 30 Refer to the Figure above. The profit maximizing price of haircuts for the CW Barber Shop is 10 12 14 16

Explanation / Answer

12. Profit Maximization occurs when MR = MC. As seen in the graph, MR and MC intersect when q = 20 haircuts.

Ans - a. 20

13. As seen in the graph, MR = MC when q = 20 haircuts and P = $10.

Ans - a. $10

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