Use the Following to Answer Question

question 10

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,how much is Sergei's profit at the profit-maximizing output?

• A)$680
• B)$330
• C)$150
• D)$40

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, indicating how spread out the values are from the mean.

Poisson Random Variable

Represents the number of events occurring within a fixed interval of time or space, assuming these events happen at a constant rate and independently of the time since the last event.

Expected Value

The expected value is the long-run average value of repetitions of an experiment it represents, often used in probability and statistics.

Poisson Distribution

A probability distribution that represents the likelihood of observing a certain number of events within a specified time or space interval.