Consider the Price and Quantity Data Below for a Perfectly

question 83

Multiple Choice

Consider the price and quantity data below for a perfectly competitive firm producing mousetraps.
TABLE 9-1
-Refer to Table 9-1.Suppose this firm is producing 2000 mousetraps and average variable cost is $5.50.What level of economic profit is this firm earning?

• A)$1000
• B)-$1000
• C)$0
• D)$0.50
• E)There is insufficient information to answer to know.

---

Definitions:

Belligerent Audience

A belligerent audience is characterized by a hostile or aggressive attitude towards the presenter or the presented information, often challenging to engage positively.

Question-and-answer Session

A discussion format where participants can ask questions and receive answers from a host or expert, usually in a public or meeting setting.

Advance Organizer

A teaching tool used before presenting new material to prepare students by linking what they already know to what they are about to learn.

Oral Presentation

A spoken presentation intended to inform, persuade, or build goodwill among an audience, often accompanied by visual aids.