Question 1
Refer to the information provided in Figure 13.4 below to answer the question(s) that follow.
Refer to Figure 13.4. The profit-maximizing price for this firm is
◦ $5.
◦ $7.
◦ $9.
◦ $11.
Question 2
Refer to the information provided in Figure 13.4 below to answer the question(s) that follow.
Refer to Figure 13.4. If this firm is producing the profit-maximizing quantity and selling it at the profit-maximizing price, the firm's profit will be
◦ $0.
◦ $88.
◦ $154.
◦ $242.