Refer to the data provided in Table 9.3 below to answer the following question(s).
Table 9.3qTFCTVCTCMCAVCATC0$100 $0$100 ---- -- 1100401404040 140 21006016020 30 80 31009019030 30 63.334100124 224 343156 5100180 280 56 36 56 6100 264 364 84 44 60.677100 372 472 108 53.14 67.43Refer to Table 9.3. If the market price is $30, then this firm will maximize profits by producing ________ units of output.
A. three
B. four
C. five
D. six
Answer: A
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Trade between two parties is beneficial because:
a. it ensures that the standard of living in the poorer country matches its trading partner eventually. b. it enables each to consume a bundle of goods that it cannot produced domestically. c. it has an immediate effect on an economy by increasing its production set. d. it allows the economy of both trading partners to grow equally.
Marketable debt from the U.S. government in the form of bonds, notes, and bills is known as
a. monetized debt b. crowding out c. derivatives d. Treasury securities e. external debt
Exhibit 1A-3 Straight line
Straight line AB in Exhibit 1A-3 is a downward sloping line illustrating:
A. a direct relationship between X and Y. B. an inverse relationship between X and Y. C. X and Y are unrelated variables. D. the ceteris paribus assumption.
Refer to the following payoff matrix:Player 1Player 2??ab?A$50,$5$25,$30?B$40,$2$20,$1The Nash equilibrium for the simultaneous-move game depicted in the payoff matrix is:
A. {(A,a)}. B. {B,b)}. C. {(A,a) and (A,b)}. D. There is no pure strategy Nash equilibrium to this game.