Graph 14-6 This Graph Depicts the Cost Structure of a Firm in Structure

question 73

Multiple Choice

Graph 14-6

This graph depicts the cost structure of a firm in a competitive market. Use the graph to answer the following question(s) .
-Refer to Graph 14-6. When market price is P₄, a profit-maximising firm's total cost can be represented by the area:

• A) P₄ * Q₁
• B) P₂ * Q₄
• C) P₄ * Q₄
• D) total costs cannot be determined from the information in the graph

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