Answer to Question #8857 in Microeconomics for Shaminee

Question #8857
Assume that lee seafood restaurant faces the following cost schedule Quantity Total cost 0 RM25 1 RM35 2 RM50 3 RM70 4 RM95 5 RM125 6 RM160 7 RM200 Lee seafood restaurant is a perfectly competitive firm. If the market price of seafood is RM28 per dish, how many will lee produce?
Expert's answer

Lee will produce 4 dishes, if it maximizes profit.

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