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

question 66

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. How much profit will this firm earn?

• A) $0; this firm is making a loss
• B) $50
• C) $170
• D) $180

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Definitions:

Quantity Of Performance

A measure of the amount of work completed within a given time frame, often used to gauge productivity.

Quality Of Performance

The degree to which a task is completed with accuracy, efficiency, and adherence to standards.

Extrinsic Rewards

Rewards from an external source, often used as motivation, such as money, grades, or praise.

Intrinsic Motivation

The driving force behind actions that are carried out for their own sake and for the internal fulfillment they provide.