-According to the Above Figure, What Are the Profits of the Firm

question 82

Multiple Choice

-According to the above figure, what are the profits of the firm if it produces 50,000 units?

• A) -$5,000 per day
• B) -$10,000 per day
• C) -$7,500 per day
• D) -$17,500 per day

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Definitions:

Marginal Utility

The additional satisfaction or utility gained from consuming an extra unit of a good or service.

Total Utility

The overall satisfaction or benefit a consumer receives from consuming a certain quantity of a good or service.

Marginal Utility

The additional satisfaction or benefit gained from consuming one more unit of a good or service.

Money Income

The total amount of monetary earnings or receipts a person or household receives within a specific period.