Total cost schedule for a competitive firm: If market price is $60, what is the maximum profit the firm can earn?

A. $75
B. -$10
C. Zero profit, the firm shuts down
D. $85
E. $80


Answer: A

Economics

You might also like to view...

The large budget deficits of the early 1990s resulted in large current account deficits

Indicate whether the statement is true or false

Economics

In the United States, the average level of educational attainment is approximately a

A. primary education. B. secondary education. C. higher education. D. graduate-level education.

Economics

If some resources went to waste rather to use in production, the economy would operate outside its production possibility curve

a. True b. False Indicate whether the statement is true or false

Economics

In surveys about inflation during the 1990s, what percentage of the U.S. population as a whole answered “Fully agree” that preventing high inflation was a highly important national priority?

a. 18% b. 33% c. 52% d. 75%

Economics