Table 14-3 Use the Information for a Competitive Firm in the Table

question 141

Multiple Choice

Table 14-3
Use the information for a competitive firm in the table below to answer the following questions.

-Refer to Table 14-3.At a production level of 4 units which of the following is true?

• A)Marginal cost is $6.
• B)Total revenue is greater than variable cost.
• C)Marginal revenue is less than marginal cost.
• D)The firm is maximizing profit.

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