Suppose ABC Corp

question 111

Multiple Choice

Suppose ABC Corp.is a firm producing newsprint in a perfectly competitive industry.We have the following information about the firm's production: - output (Q) = 1500 tonnes per month
- average total cost (ATC) = $627 per tonne
- average variable cost (AVC) = $614 per tonne
- marginal revenue (MR) = $620 per tonne
- marginal cost (MC) = $620 per tonne
At the current level of output,this firm is ________ profit and is earning economic profit of ________ per month.

• A)maximizing; $10 500
• B)maximizing; -$10 500
• C)not maximizing; -$10 500
• D)not maximizing; -$9000
• E)maximizing; $9000

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Definitions:

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