Use the Figure Below to Answer the Following Question

question 86

Multiple Choice

Use the figure below to answer the following question. Figure 12.2.4
-Refer to Figure 12.2.4.Grannie's is the only cake bakery on Coastal Island.The graph shows Grannie's demand curve,marginal revenue curve,and marginal cost curve.Grannie's profit-maximizing price is ________ a cake and its profit-maximizing output is ________ cakes a week.

• A)$28;12
• B)$16;12
• C)$36;2
• D)$16;24
• E)$24;16

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Definitions:

Open Practices

Practices in research and scholarship that promote accessibility, transparency, and accountability, which include open access publishing, open data, and open methodology.

Transparency

The quality of being open, communicative, and accountable, making actions, decisions, and processes easy to understand and scrutinize.

Independent Variable

A variable that is manipulated in an experiment to see if it causes a change in another variable.

Confounding Variable

A factor other than the independent variable that might produce an effect in an experimental design, thus confounding the results.