Given the Following Data for a Perfectly Competitive Firm, What

question 6

Multiple Choice

Given the following data for a perfectly competitive firm, what is the amount of profit the firm will make at the profit maximizing output?
P = MR = $100
TC = 1,000 + 125Q - .5Q²
SMC = 125 - Q
Q = units produced per month
TFC = $1000

• A) none - the firm would shut down
• B) $1,312.50
• C) $2,548.63
• D) -$1,425.86
• E) -$2,351.27

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In different contexts, it can represent a constant value, a specific coefficient, or the number of clusters in clustering algorithms.

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