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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