Figure 11-18 -The Profit-Maximizing Output and Price for the Firm in Figure

question 139

Multiple Choice

Figure 11-18
-The profit-maximizing output and price for the firm in Figure 11-18, which charges the same price to all customers, are

• A) 117 and $14
• B) 150 and $22
• C) 150 and $14
• D) 117 and $22
• E) 117 and $24

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Definitions:

Total Fertility Rate

The total number of offspring a woman is predicted to give birth to during her lifetime, based on existing age-related fertility trends.

Replacement Rate

The percentage of a worker's pre-retirement income that is paid out by a pension program upon retirement.

Market Price

The market rate at which an asset or service is currently available for buying or selling.