Suppose That a Firm Is Currently Maximizing Its Short-Run Profit

question 118

Multiple Choice

Suppose that a firm is currently maximizing its short-run profit at an output of 50 units.If the current price is $9,the marginal cost of the 50th unit is $9,and the average total cost of producing 50 units is $4,what is the firm's profit?

• A) $0
• B) $200
• C) $250
• D) $450

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Definitions:

Emotional Manipulation

The act of using emotional triggers to influence or control another's behavior or decision-making process.

Psychographics

The study and classification of people according to their attitudes, aspirations, and other psychological criteria, especially in market research.

Psychological Characteristics

Traits or features of an individual's mental and emotional makeup, such as personality, attitudes, and motivations.

Demographics

Statistical data relating to the population and particular groups within it, used for marketing, policy-making, and social research purposes.