Scenario 9-1 Assume a Certain Competitive Price-Taker Firm Is Producing Q =

question 31

Multiple Choice

Scenario 9-1
Assume a certain competitive price-taker firm is producing Q = 1,000 units of output.At Q = 1,000,the firm's marginal cost equals $15 and its average total cost equals $11.The firm sells its output for $12 per unit.
-Refer to Scenario 9-1.To maximize its profit,the firm should

• A)increase its output.
• B)continue to produce 1,000 units.
• C)decrease its output,but continue to produce.
• D)shut down.

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