Charlie's Chimps Is a Perfectly Competitive Firm That Produces Cuddly

question 284

Multiple Choice

Charlie's Chimps is a perfectly competitive firm that produces cuddly chimps for children. The market price of a chimp is $10, and Charlie's Chimps produces 100 chimps. The marginal cost of the 100th chimp is $9. Charlie's Chimps

• A) is maximizing its profit.
• B) will maximize its profit if it produces more than 100 chimps.
• C) will maximize its profit if it lowers the price to $9 a chimp.
• D) will maximize its profit if it produces fewer than 100 chimps.

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