Refer to the Following Table Which Gives the Demand and Cost

question 23

Multiple Choice

Refer to the following table which gives the demand and cost data for a price-setting firm:
$$\begin{array} { c c c } \text { Price } & \text { Dutput } & \text { Tatal Cost } \\\hline \$ 20 & 7 & \mathbf { 3 6 } \\19 & \mathbf { 8 } & 45 \\1 \mathbf { 9 } & \mathbf { 9 } & \mathbf { 5 4 } \\17 & 10 & \mathbf { 6 3 } \\16 & 11 & 72 \\15 & 12 & \mathbf { 8 1 }\end{array}$$
-What is the profit-maximizing price?

• A) $19
• B) $18
• C) $17
• D) $16
• E) $15

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Definitions:

-oid

A suffix used in English to form adjectives or nouns indicating similarity or resemblance to something.

-al

a suffix denoting pertaining to or relating to something, often forming adjectives from nouns.

-ose

A suffix used in biochemistry to denote sugars or carbohydrates.

-osis

A suffix used in medical terminology to indicate a condition, disease, or increase.