At the Current Level of Output, a Profit-Maximising Firm in a Competitive

question 18

Multiple Choice

At the current level of output, a profit-maximising firm in a competitive market earns average revenue of $30 and has an average total cost of $26.Suppose that the firm's marginal cost curve is equal to its average total cost curve at an output level of 30 units.How much profit is earned by the firm at its current level of output?

• A)more than $120
• B)exactly $120
• C)less than $120
• D)none of the above is necessarily correct

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Definitions:

Alkyl Chlorides

Organic compounds containing a chlorine atom attached to an alkyl group, known for their reactivity and implication in various chemical reactions.

Substitution

A chemical reaction where one atom or group of atoms in a molecule is replaced by another atom or group of atoms.

Major Organic Product

The primary substance produced in the largest amount from an organic chemical reaction, given the reactants and conditions.

Nucleophilic

Pertaining to a molecule or ion that donates an electron pair to form a chemical bond in reaction.