-Fast Copy Is a Perfectly Competitive Firm

question 72

Multiple Choice

-Fast Copy is a perfectly competitive firm. The figure above shows Fast Copy's cost curves. If the market price is 2 cents per page, what is Fast Copy's profit maximizing level of output?

• A) 16 pages per hour
• B) 32 pages per hour
• C) 48 pages per hour
• D) 64 pages per hour

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Definitions:

Subscript

A character or symbol set or printed below the normal line of text, often used in chemical formulas to indicate the number of atoms.

Non-metallic Elements

Elements that do not exhibit metallic characteristics, broadly classified into metalloids, nonmetals, and noble gases, such as carbon, sulfur, and neon.

Conduct Electricity

The ability of a substance to allow the flow of electrical current or charges through it.

Conduct Heat

To conduct heat means to transfer thermal energy through a substance, due to a temperature difference, without the substance itself moving significantly.