(Table: Competitive Firm) Refer to the Table That Showsrevenue and Cost

question 29

Multiple Choice

(Table: Competitive Firm) Refer to the table that showsrevenue and cost schedules for a competitive firm. At theprofit-maximizing quantity, which of the following is TRUE?
I. MR = MCII. Producer surplus is maximized
III. Profits are equal to $180.

• A)I only
• B)I and II only
• C)I and III only
• D)I, II, and III

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