Use the Figure Below to Answer the Following Question

question 52

Multiple Choice

Use the figure below to answer the following question.

Figure 12.3.5
-Refer to Figure 12.3.5, which shows the cost curves and the marginal revenue curve for a perfectly competitive firm. To maximize its profit, the firm produces ________ units of output and the price is ________ a unit.

• A)30; $40
• B)30; $30
• C)20; $40
• D)20; $30
• E)30; $32.50

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