Assume the Following Total Cost Schedule for a Perfectly Competitive

question 11

Multiple Choice

Assume the following total cost schedule for a perfectly competitive firm. $$\begin{array} { | c | c | c | } \hline \text { Output } & \text { TVC } ( \$ ) & \text { TFC } ( \$ ) \\\hline 0 & 0 & 100 \\\hline 1 & 40 & 100 \\\hline 2 & 70 & 100 \\\hline 3 & 120 & 100 \\\hline 4 & 180 & 100 \\\hline 5 & 250 & 100 \\\hline 6 & 330 & 100 \\\hline\end{array}$$ TABLE 9- 2
-Refer to Table 9- 2.At what price would a profit- maximizing firm earn zero economic profits?

• A)$70
• B)$220
• C)$40
• D)$430
• E)$145

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Definitions:

Only Children

Individuals who have grown up without siblings, often considered in psychological studies for their unique developmental aspects.

Fictional Finalism

A principle in Adlerian psychology proposing that an individual is motivated more by his or her expectations of the future than by past experiences.

Dominant Type

In personality theory, this refers to the primary or most influential trait or pattern within an individual's personality.

Avoiding Type

A personality style characterized by a tendency to avoid confrontation, risk, and stress.