Use the Figure to Answer the Following Question(s)

question 375

Multiple Choice

Use the figure to answer the following question(s) .
Figure 9-8

If the market price in Figure 9-8 increases to $4, indicate the firm's profit-maximizing output and total revenue.

• A) output, 15; total revenue, $45
• B) output, 15; total revenue, $60
• C) output, 17; total revenue, $68 (approx.)
• D) output, 20; total revenue, $80

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Definitions:

Independent E-marketplaces

Online platforms that facilitate transactions between buyers and sellers from various industries without being managed by a single company or industry consortium.

Business-to-business Buying

The process where one business purchases goods or services from another business for use in production, operations, or resale.

Organizational Buyers

Entities such as businesses, governments, and institutions that purchase goods and services for use in the production of other goods and services, for resale, or for operations.

E-marketplace

An online platform where buyers and sellers can exchange goods and services, characterized by its ease of access and broad reach.