Assume a certain competitive price-taker firm is producing Q = 1,000 units of output. At Q = 1,000 . the firm's marginal cost equals $15 and its average total cost equals $11 . The firm sells its output for $12 per unit. At Q = 1,000 . the firm's profit amounts to

a. -$200.
b. $1,000.
c. $3,000.
d. $4,000.


B

Economics

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