Refer to the Data Provided in Table 9 -Refer to Table 9

question 147

Multiple Choice

Refer to the data provided in Table 9.1 below to answer the question(s) that follow.
Table 9.1 $$\begin{array} { l l l l l l l } \text { q } & \text { TFC } & \text { TVC } & \text { TC } & \text { MC } & \text { AVC } & \text { ATC } \\\hline 0 & \$ 50 & \$ 0 & \$ 50 & - - & - - & - - \\1 & 50 & 20 & 70 & 20 & 20 & 70 \\2 & 50 & 30 & 80 & 10 & 15 & 40 \\3 & 50 & 45 & 95 & 15 & 15 & 31.67 \\4 & 50 & 62 & 112 & 17 & 15.50 & 28 \\5 & 50 & 90 & 140 & 28 & 18 & 28 \\6 & 50 & 132 & 182 & 42 & 22 & 30.33 \\7 & 50 & 186 & 236 & 54 & 26.57 & 33.71 \\\hline\end{array}$$
-Refer to Table 9.1. If the market price is $10, then for this firm to maximize profits it should produce ________ unit(s) of output.

• A) zero
• B) one
• C) two
• D) three

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Definitions:

Checkable Deposits

Bank account balances that depositors can withdraw on demand using checks, debit cards, or electronic transfers, essentially acting as money.

Money Supply

The total amount of money available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.

Legal Tender

Currency that must be accepted if offered in payment of a debt in the jurisdiction in which the debt is being paid.

Currency

A system of money in general use in a particular country or economic context.