Use the Figure to Answer the Following Question(s)

question 185

Multiple Choice

Use the figure to answer the following question(s) .
Figure 9-8
-The average total cost (ATC) and marginal costs (MC) of a firm producing in a price-taker industry are depicted in Figure 9-8. If the current market price of the firm's product is $3, what output should this firm produce per day?

• A) 10
• B) 15
• C) 20
• D) 25

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Definitions:

Photon

A quantum of electromagnetic radiation that embodies the concept of light as both a particle and a wave.

Electron

A subatomic particle with a negative charge found in all atoms, contributing to electricity.

Electron

A subatomic particle with a negative charge, found in the electron clouds surrounding the nucleus of an atom.