The Accompanying Table Gives Cost Data for a Firm That

question 203

Multiple Choice

The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for the firm's product is $32, the competitive firm should produce

• A)10 units at an economic profit of $4.
• B)8 units at an economic profit of $2.
• C)8 units at an economic profit of $16.
• D)10 units at an economic profit of $20.

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