Use the Following to Answer Question

question 72

Multiple Choice

Use the following to answer question:
Figure: The Profit-Maximizing Output and Price
-(Figure: The Profit-Maximizing Output and Price) Use Figure: The Profit-Maximizing Output and Price.Assume that there are no fixed costs and AC = MC = $200.At the profit-maximizing output and price for a perfectly competitive industry,economic profit for the firms in the industry is:

• A)$0.
• B)$200.
• C)$1,600.
• D)$3,200.

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Definitions:

Self-concepts

The comprehensive view individuals have of themselves, shaped by personal beliefs, attitudes, and experiences.

Maslow Hierarchy

Maslow's hierarchy is a psychological theory proposed by Abraham Maslow, outlining a five-tier model of human needs, from basic physiological needs to self-actualization, influencing motivation and behavior.

Safety

Being safeguarded against or not prone to danger, risk, or injury.

Self-actualization

The realization or fulfilment of one's talents and potentialities, considered as a drive or need present in everyone.