(Table: Total Cost and Output) the Table Describes Sergei's Total

question 316

Essay

(Table: Total Cost and Output) The table describes Sergei's total costs for his perfectly competitive all-natural ice cream firm.What is the minimum price that Sergei needs to receive for a tub of ice cream in order to stay in business in the short run?
A.$10
B.$20
C.$33.33
D.$36.67

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Definitions:

Disposable Income

Net income available to households after taxes and other deductions, used for spending or saving.

GDP

GDP represents the sum total of all monetary values of goods and services produced inside a nation's boundaries over a given time frame.

Trillion

A numerical value representing one thousand billion, or 10^12 in the United States and other countries using short scale numbering.

Total Savings

The aggregate amount saved by individuals, businesses, and the government, often measured over a specific time period.