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

question 119

Multiple Choice

Refer to the data provided in Table 9.4 below to answer the question(s) that follow.
Table 9.4
$$\begin{array} { c c c c c c c } \text { q } & \text { TFC } & \text { TVC } & \text { TC } & \text { MC } & \text { AVC } & \text { ATC } \\\hline 0 & \$ 100 & \$ 0 & \$ 100 & - - & - - & - - \\\hline 1 & 100 & 40 & 140 & 40 & 40 & 140 \\\hline 2 & 100 & 60 & 160 & 20 & 30 & 80 \\\hline 3 & 100 & 90 & 190 & 30 & 30 & 63.33 \\\hline 4 & 100 & 124 & 224 & 34 & 31 & 56 \\\hline 5 & 100 & 180 & 280 & 56 & 36 & 56 \\\hline 6 & 100 & 264 & 364 & 84 & 44 & 60.67 \\\hline 7 & 100 & 372 & 472 & 108 & & 67.42 \\\hline\end{array}$$
-Refer to Table 9.4. The market price is $84 and this firm is producing four units of output. Which of the following would you recommend to this firm?

• A) Continue producing four units of output, because the firm is able to make an economic profit.
• B) Increase output to six units, so that marginal cost equals marginal revenue.
• C) Reduce price to $34, so that marginal cost will equal marginal revenue at 4 units of output.
• D) Increase output to seven units so that price is less than marginal cost.

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Definitions:

Body Disposition

The methods and practices involved in dealing with the body of a deceased person, including burial, cremation, and other forms of disposal.

Hindus

Followers of Hinduism, one of the world's oldest religions, characterized by a belief in reincarnation, karma, and a multitude of gods and goddesses.

Buddhists

Followers of Buddhism, a spiritual tradition founded by Siddhartha Gautama in the 6th century BCE, focusing on overcoming suffering through practices like meditation and ethical living.

Epitaphs

Short texts written in memory of a deceased person, often inscribed on their tombstone, reflecting the person's life or the feelings of those who are left behind.