Use the Following to Answer Questions: Table: Competitive Firm 2

question 56

Multiple Choice

Use the following to answer questions: Table: Competitive Firm 2 $$\begin{array} { c c c } \hline \text { Quantity (Units) } & \text { Total Revenue (\$) } & \text { Total Cost (\$) } \\\hline 0 & 0 & 30 \\1 & 80 & 50 \\2 & 160 & 80 \\3 & 240 & 120 \\4 & 320 & 170 \\5 & 400 & 230 \\6 & 480 & 300 \\7 & 560 & 380 \\8 & 640 & 470 \\\hline\end{array}$$
-(Table: Competitive Firm 2) Refer to the table that shows the revenue and cost schedules for a competitive firm. What is the marginal cost at the profit-maximizing quantity?

• A) $50
• B) $80
• C) $230
• D) $300