The Figure Given Below Shows the Revenue and Cost Curves

question 25

Multiple Choice

The figure given below shows the revenue and cost curves of a perfectly competitive firm. Figure 9.2
MC: Marginal cost curve
MR: Marginal revenue curve
ATC: Average-total-cost curve
AVC: Average-variable-cost curve
-Refer to Figure 9.2.If the marginal-revenue curve would have intersected the average-total-cost curve at its lowest point and the firm maximized profit,then total revenue would have been equal to:

• A)$500.
• B)$550.
• C)$600.
• D)$450.
• E)$400.

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Definitions:

Psychological Roots

Fundamental underlying causes or bases of behaviors, thoughts, or emotions from a psychological perspective.

Newborn

An infant who is within hours, days, or up to a few weeks old.

Fivefold

Referring to something that is five times as great or as numerous.

Growth Infancy

The rapid physical and developmental changes that occur in human babies from birth to the end of the first year of life.