Refer to the above table. If the price is $6, the perfectly competitive firm should produce
A) 104 units.
B) 105 units.
C) 106 units.
D) 107 units.
B
You might also like to view...
Suppose a farmer is a price taker for soybean sales with cost functions given by TC = .1q2 + 2q + 30 MC = .2q + 2 The profit maximizing level of output is
a. 0 b. 30 c. 40 d. 50
Figure 13.1 shows a demand and costs of an unregulated monopoly. At the profit maximization output, the firm earns a profit of:
A. $0. B. $10,000. C. $50,000. D. $80,000.
According to economists, an individual who tries to derive utility from the consumption of a good without paying for it is called:
a. a utility maximizer. b. a free rider. c. an opportunist. d. a profit maximizer.
The circular flow model is all of the following except
a. an abstraction from reality b. a model of two markets c. a model of two agents d. a simple economic model e. designed to aid policy makers