3. MaxProfit Inc, a profit maximizing firm in a competitive market is currently producing 1000 units of widgets. It has average revenue of $100, average total cost of $80 and fixed cost of $2,000. a. What is its profit?

Answer;

Total profit is $18000

Step-by-step explanation:

Given in question

Number of unit is 1000

Average revenue is $100

Average total cost is $80

Fixed cost is $2000

Total revenue = average revenue number of unit

Total revenue = $100 1000=$100000

Total input cost = total cost + fixed cost

Total cost = average cost total unit

Total cost =$80 1000 = $80000

Total input cost = $80000 + $2000 = $82000

Profit = total revenue-total cost

Profit = $100000 - $82000 = $18000

Total profit is $18000

hey there!

if she's saving for six months, let's divide the total number we need for the trip by six, dividing it into the amount that needs to be saved for each month.

500 ÷ 6 =

she needs to save at least this amount each month, so we should use this symbol: ≥

let x be the amount she saves each month.

your final answer is x ≥

hope this !