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

question 174

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 $30, then this firm will maximize profits by producing ________ units of output.

• A) three
• B) four
• C) five
• D) six

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Definitions:

Greek Orthodox

A Christian denomination that follows the beliefs and practices of the Eastern Orthodox Church, characterized by its liturgy, traditions, and governance by the Ecumenical Patriarchate of Constantinople.

Material Buildings

Structures constructed from physical materials such as wood, steel, concrete, etc.

Abstract Ideals

Concepts or principles that exist in thought or as an idea but do not have a physical or concrete existence.

Social Conventions

Established norms and agreed upon standards of behavior in a society.