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Graph 14-5 This Graph Depicts the Cost Structure of a of a Firm

question 36

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Graph 14-5
Graph 14-5    This graph depicts the cost structure of a firm in a competitive market. Use the graph to answer the following question(s) . -Refer to Graph 14-5. When market price is P<sub>1</sub>, a profit-maximising firm's total revenue can be represented by the area: A)  P<sub>3</sub> * Q<sub>2</sub> B)  P<sub>1</sub> * Q<sub>3</sub> C)  P<sub>1</sub> * Q<sub>2</sub> D)  P<sub>2</sub>* Q<sub>2</sub> This graph depicts the cost structure of a firm in a competitive market. Use the graph to answer the following question(s) .
-Refer to Graph 14-5. When market price is P1, a profit-maximising firm's total revenue can be represented by the area:


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