9.3 Short-Run Decisions Assume the Following Total Cost Schedule for a Perfectly Competitive

question 71

Multiple Choice

9.3 Short-Run Decisions
Assume the following total cost schedule for a perfectly competitive firm.
TABLE 9-2
-Refer to Table 9-2.If the market price were $75,this perfectly competitive firm wishing to maximize its profits would

• A)produce 2 units of output.
• B)produce 6 units of output.
• C)produce 5 units of output.
• D)not produce because P < minimum of ATC.
• E)not produce because P < TFC.

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