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:

Useful Life

The estimated duration of time a fixed asset is expected to be useful for its intended purpose.

Automating

The process of implementing systems and technology to perform tasks without human intervention, often to improve efficiency and accuracy.

Operating Expenses

Costs incurred in the regular functioning of a business, excluding direct production costs; these may include rent, utilities, and administrative salaries.

Sales Revenues

Income earned by a company from its sales of goods or services, before any deductions.