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

question 291

Multiple Choice

Refer to the data provided in Table 9.3 below to answer the following question(s) .
Table 9.3
$$\begin{array} { c c c c c c c } \text { q } & \text { TFC } & \text { TVC } & \text { TC } & \text { MC } & \text { AVC } & \text { ATC } \\\hline 0 & \$ 100 & \$ 0 & \$ 100 & - - & - - & - - \\\hline 1 & 100 & 40 & 140 & 40 & 40 & 140 \\\hline 2 & 100 & 60 & 160 & 20 & 30 & 80 \\\hline 3 & 100 & 90 & 190 & 30 & 30 & 63.33 \\\hline 4 & 100 & 124 & 224 & 34 & 31 & 56 \\\hline 5 & 100 & 180 & 280 & 56 & 36 & 56 \\\hline 6 & 100 & 264 & 364 & 84 & 44 & 60.67 \\\hline 7 & 100 & 372 & 472 & 108 & & 67.43 \\\hline\end{array}$$
-Refer to Table 9.3. If the market price is $84, then this firm will maximize profits by producing ________ unit(s) of output and its profits will be ________.

• A) five; $140
• B) six; $140
• C) six; $240
• D) seven; $116

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Definitions:

Self-Determination

The principle that peoples have the right to freely choose their sovereignty and international political status with no interference.

League of Nations

An international organization established after World War I to promote peace and cooperation among countries, though it ultimately proved ineffective at preventing conflict.

Election of 1916

The presidential election in the United States in which Woodrow Wilson was re-elected, largely focusing on issues of American neutrality in World War I.

Charles Evans Hughes

An influential American statesman, Supreme Court Justice, and Secretary of State who served in the early 20th century, known for his contributions to law and diplomacy.