If the Price of Output for a Price Taker Is

question 159

Multiple Choice

If the price of output for a price taker is $9 and the marginal cost of the last unit produced is $8.50,then the

• A) extra benefit of the last unit produced is less than the extra cost.
• B) firm should lower its output to increase its profit.
• C) firm is earning an average profit of $0.50.
• D) extra benefit of the last unit produced is greater than the extra cost.
• E) firm is earning a positive profit.

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