Use the Following to Answer Question

question 208

Multiple Choice

Use the following to answer question:
-(Table: Total Cost and Output) Use Table: Total Cost and Output,which describes Sergei's total costs for his perfectly competitive all-natural ice cream firm.If the market price of a tub of ice cream is $50,what quantity will Sergei produce to maximize profit?

• A)2
• B)3
• C)4

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Definitions:

Business Intelligence

The strategies and technologies used by enterprises for data analysis of business information to support decision making.

Oligopoly

A market structure dominated by a small number of firms, leading to limited competition and possibly higher prices for consumers.

Utilitarianism

An ethical theory that suggests the best action is the one that maximizes utility, typically defined as that which produces the greatest well-being of the greatest number of people.

Moral Philosophy

The branch of philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and ends of such actions.