Scenario 13-2 Assume a Certain Firm Is Producing Q = 1,000 Units

question 136

Multiple Choice

Scenario 13-2
Assume a certain firm is producing Q = 1,000 units of output.At Q = 1,000,the firm's marginal cost equals $20 and its average total cost equals $25.The firm sells its output for $30 per unit.
-Refer to Scenario 13-2.At Q = 1,000,the firm's profits equal

• A) $-5,000.
• B) $2,500.
• C) $5,000.
• D) $10,000.

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Definitions:

Spanish Florida

A territory that was controlled by Spain from 1513 until 1821, covering most of what is currently the state of Florida and parts of the southeastern United States.

Mestizos

Individuals of mixed European and Indigenous American ancestry, a term originally used in the Spanish colonies to describe people of this mixed heritage.

Spanish Borderlands

The territories in North America that were under Spanish control from the 16th to the 19th centuries, including parts of what are now the United States and Mexico.

Colonial Leadership

Refers to the governance and influential figures in the colonies, especially during periods of establishment and before independence.