Suppose That a Price Taker Confronts a Price of $6

question 173

Multiple Choice

Suppose that a price taker confronts a price of $6 and produces 650 units.For this to be the point of profit maximization,

• A) total cost must exceed total revenue.
• B) the marginal cost of producing the 650^th unit must be $6.
• C) total revenue must exceed total cost.
• D) the marginal cost of producing the 650^th unit must be less than $6.
• E) total revenue must equal total cost.

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