In Figure 17-4,below,initial Demand,marginal Cost,and Marginal Revenue Curves (None of Them

question 76

Multiple Choice

In Figure 17-4,below,initial demand,marginal cost,and marginal revenue curves (none of them shown) caused the firm to produce the profit-maximizing quantity Y₀ at a price of P₀.Now the demand and marginal cost curves have moved to those shown,with the marginal revenue curve running through point L.
Figure 17-4

-If the firm in Figure 17-4 above maintains its set price of P₀,rather than dropping price to P₁,this reduces its profit by

• A)K - G.
• B)K + G.
• C)G - K.
• D)G + H.
• E)G.

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