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Question 4 Quantity Total Cost 10 1000 11 1006 12 1014 13 1024 14 1049 15...

Question 4

  1. Quantity Total Cost
    10 1000
    11 1006
    12 1014
    13 1024
    14 1049
    15 1080
    16 1120


    The table above shows the total cost for Happy Cows, a perfectly competitive dairy farm, at various levels of production. The market price for Happy Cows dairy is $25 per unit of dairy product.



    Refer to the table above. At the profit-maximizing output level, how much does Happy Cows earn in profit?

    5,000

    1,530

    -699

    -3,460
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