Refer to the Following:
Total Cost Schedule for a Competitive

question 65

Multiple Choice

Refer to the following:
Total cost schedule for a competitive firm:
$$\begin{array} { c c } \text { Output } & \text { Total Cost } \\\hline 0 & \$ 10 \\1 & \mathbf { 6 0 } \\\mathbf { 2 } & \mathbf { 8 0 } \\\mathbf { 3 } & 110 \\4 & 165 \\5 & \mathbf { 2 4 5 } \\\hline\end{array}$$
-If market price is $30, how many units of output will the firm produce?

• A) 0, the firm shuts down
• B) 1
• C) 2
• D) 3
• E) 4

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Definitions:

Solvent Mixture

A combination of two or more solvents used to dissolve solutes for chemical processes or reactions.

Major Organic Products

The primary substances formed in significant quantities after the completion of an organic reaction.

Mechanism

The sequence of steps, including breaking and forming of bonds, through which a chemical reaction proceeds.

Intermediates

Chemically reactive species that are formed from the reactants and proceed to make the final product in a chemical reaction.