Refer to the Diagram

question 321

Multiple Choice

Refer to the diagram. If this somehow was a costless product (that is, the total cost of any level of output was zero) , the firm would maximize profits by

• A)selling the product at the highest possible price at which a positive quantity will be demanded.
• B)producing Q₁ units and charging a price of P₁.
• C)producing Q₃ units and charging a price of P₃.
• D)producing Q₂ units and charging a price of P₂.

---

Definitions:

Impulsiveness

A tendency to act on urges and desires without considering the long-term consequences, often leading to hasty or risky decisions.

Obesity

A medical condition involving excess body fat that increases the risk of health problems.

Middle Childhood

A developmental stage that generally covers children from about 6 to 12 years old, characterized by significant cognitive, emotional, and social growth.

Growth Spurt

A rapid period of growth in height and weight, often occurring during puberty.