A Firm Can Produce Any Quantity of Good X with the Following

question 41

Multiple Choice

A firm can produce any quantity of good X with the following cost structure: TC = 450,000 + 20Q, where Q measures units of output. The industry demand for good X is Q = 100,000 - 500P. At the profit-maximizing output level, the firm's ATC of production is $____.

• A) 50
• B) 40
• C) 30
• D) 20

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