Question 1
Refer to the information provided in Figure 8.8 below to answer the question(s) that follow.
Refer to Figure 8.8. If this farmer is producing the profit-maximizing level of output, her marginal cost is
◦ $2.
◦ $8.
◦ $9.
◦ $12.
Question 2
Refer to the information provided in Figure 8.8 below to answer the question(s) that follow.
Refer to Figure 8.8. What is the total revenue from producing the profit-maximizing level of output?
◦ $8,400
◦ $9,000
◦ $12,000
◦ $16,800