The Following Table Shows the Total Costs Incurred by a Firm

question 138

Multiple Choice

The following table shows the total costs incurred by a firm to produce different levels of output. It also shows the price that consumers are willing to pay for each level of output.

-Refer to the table above.If the firm is a monopolistic competitor,what is the equilibrium price charged by the firm?

• A) $77
• B) $80
• C) $65
• D) $57

---

Definitions:

Journal Entry

A recording of a business transaction in an accounting journal, indicating the financial effects of the transaction.

Posting Reference Column

A column in journals or ledgers used to record page numbers or account numbers, facilitating the tracking of transactions.

Ledger

A comprehensive collection of a company's financial accounts, where all transactions are recorded.

Transactions

Acts of buying, selling, transferring, or exchanging goods, services, or funds between two or more parties.