17. It turns out that there is enough information to answer this question since all we need to determine profit is total cost and total reveue. Total revenue is easy. Since the firm is selling 1,000 at a price of $10 each TR = 1,000 x $10 = $10,000.

   Computing total cost simply requires that we recall what an isocost line tells us. Remember that every point on an isocost line represents the same level of expenditure on inputs. Since we know the wage rate is $600 per week and we know that if the firm spent all its production costs on labor it could hire 10 workers (the endpoint on the labor axis is 10) then total expenditure is $6,000. So Profit = TR - TC = 10,000 - 6,000 = $4,000 .

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