Question 1
Refer to the data provided in Table 9.4 below to answer the question(s) that follow.
Refer to Table 9.4. At a market price of $56, if the firm produces where
MR =
MC, then it would produce ________ units of output and earn an economic profit of ________.
◦ 0; -$100
◦ 4; $0
◦ 5; $0
◦ either 4 or 5; $0
Question 2
Refer to the data provided in Table 9.4 below to answer the question(s) that follow.
Refer to Table 9.4. If the market price is $40, then to maximize profits this firm should produce
◦ zero units of output.
◦ one unit of output.
◦ two units of output.
◦ an output level of about four.
Periodic Table
Question 37 Part 2
economic question
economic question
Table
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