Brenda's Family Photos is a photographic portrait business in a perfectly competitive market in Ithaca. The market price of a portrait is $17.50. The table shows Brenda's total costs. How many portraits does Brenda sell in an hour and what Brenda's economic profit in the short run? Brenda's Family Photos sells portraits an hour. Quantity (portraits per hour) 3 4 5 6 Total cost (dollars per hour) 75 85 100 120 150

Brenda's Family Photos is a photographic portrait business in a perfectly competitive market in Ithaca. The market price of a portrait is $17.50. The table shows Brenda's total costs. How many portraits does Brenda sell in an hour and what Brenda's economic profit in the short run? Brenda's Family Photos sells portraits an hour. Quantity (portraits per hour) 3 4 5 6 Total cost (dollars per hour) 75 85 100 120 150

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter5: Buying The Necessities

Section: Chapter Questions

Problem 20AA

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