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

question 193

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. At a market price of $56, if the firm produces where MR = MC, then it would produce ________ units of output and earn an economic profit of ________.

• A) 0; -$100
• B) 4; $0
• C) 5; $0
• D) either 4 or 5; $0

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Definitions:

Object Permanence

The recognition that items persist in existence even when they're not visible, audible, or perceptible through any senses.

Conservation

The practice of protecting and preserving natural resources and the environment for future generations.

Hypothetical Questions

Inquiries made to explore possibilities, outcomes, or scenarios that are not based on current reality but on conjecture.

Personal Fable

A cognitive distortion observed in adolescents who believe their thoughts, feelings, and experiences are unique and exceptional.