Refer to the Table Shown A)1 Unit of Output

question 50

Multiple Choice

Refer to the table shown. If the market price is $8, a perfectly competitive profit-maximizing firm will produce: $$\begin{array} { | c | c | } \hline \text { Quantity } & \text { Marginal Cast } \\\hline 1 & \$ 3 \\\hline 2 & 5 \\\hline 3 & 7 \\\hline 4 & 9 \\\hline\end{array}$$

• A)1 unit of output.
• B)2 units of output.
• C)3 units of output.
• D)4 units of output.

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Definitions:

Beaver Pelts

Beaver pelts refers to the fur of beavers, which was highly sought after for the manufacture of hats and garments, especially in the 17th and 18th centuries, driving the North American fur trade.

Sioux

A group of Native American tribes and First Nations peoples primarily inhabiting the Great Plains of the United States and Canada.

French

Relating to the people, language, or culture of France.

Southeast

A geographical region of the United States that includes states like Alabama, Georgia, and Mississippi, known for its distinct culture and history.