Refer to the Information Provided in Table 8 $\text {Number of}$

question 202

Multiple Choice

Refer to the information provided in Table 8.3 below to answer the question(s) that follow.
Table 8.3 $\text {Number of}$
$\begin{array}{llllllll}\text {Earrings}&\text { TVC}&\text { MC }&\text {AVC}&\text { TFC }&\text {TC}&\text { AFC}&\text { ATC}\\\hline0 & & & & && \\1 & 20& & & & \\2 & & 10& & & &30& \\3 & & & & 110&& \\4 & & &20 & & & \\5 & & & &180 &\\\hline\end{array}$

-Refer to Table 8.3. If the firm is in a perfectly competitive industry with a market price of $30 per unit, the firm will produce ________ units and earn a profit of ________.

• A) three; $20
• B) four; $20
• C) four; -$20
• D) five; $30

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Definitions:

Lift Axles

Lift axles are additional axles on vehicles that can be lowered to the ground to support increased weight or raised to minimize wear when not needed.

Tag Axles

Additional axles positioned behind the drive axles of heavy trucks or trailers to support more weight and improve stability.

Interaxle Differential

A differential located between the axles of a vehicle, allowing for differences in wheel speed on the same axle.

Differential Pinions

Small gears within a differential that engage with the ring gear to allow for the difference in wheel speed on a vehicle when turning.