fill in the blanks in photo 2 please
FC = TC-VC TC = VC + FC; VC = TC – FC; AVC =VC/Q ATC = TC/Q; MC = ATC / AQ; MC = AVC/AQ Your objective is to maximize profits. The rule for profit maximization is: Presume that all lemonade is alike and therefore you are taking the price as given and need to decide on the quantity pitcher, but not the If lemonade sells for $16 a pitcher, you would make the _ pitcher. pitcher, but not the If lemonade sells for $11 a pitcher, you would make the pitcher pitcher, but not the If lemonade sells for $9 a pitcher, you would make the pitcher. , but if you If lemonade sells for $9 a pitcher, you are incurring a loss of $ shutdown you would incur the loss of $ |_which is the fixed cost. If lemonade sells for $5a pitcher, would you make any pitchers of lemonade? If lemonade sells for less than $ a pitcher, you would pack up your lemons and go home because this is less than the minimum of your Average Cost.

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