Question 1
Refer to the information provided in Figure 13.3 below to answer the question(s) that follow.
Refer to Figure 13.3. This firm's ________ will be maximized at a price of $10.
◦ marginal cost
◦ total revenue
◦ marginal revenue
◦ profit
Question 2
Refer to the information provided in Figure 13.3 below to answer the question(s) that follow.
Refer to Figure 13.3. This firm's marginal revenue will be positive at
◦ $6.
◦ $14.
◦ all prices.
◦ prices between $8 and $12.