Refer to the Accompanying Figure to Answer the Following Questions

question 51

Multiple Choice

Refer to the accompanying figure to answer the following questions.

-The profit-maximizing price and quantity are ________,respectively.

• A) $25 and 1,000
• B) $40 and 1,500
• C) $45 and 1,500
• D) $50 and 1,000
• E) $70 and 1,000

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Definitions:

Authorized Shares

The upper limit of shares a corporation can legally distribute, as outlined in its articles of incorporation.

Shareholders

Individuals or entities that legally own one or more shares of stock in a joint-stock company or corporation.

Company

A legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise.

Par Value

The face value of a bond or stock as stated by the issuing company, which may differ from its market value.