$$\begin{array} { c r } \text { Output } & \text { Price } \\1 & \$ 30 \\2 & 28 \\3 & 26 \\4 & 24 \\5 & 22\end{array}$$

question 47

Multiple Choice

$$\begin{array} { c r } \text { Output } & \text { Price } \\1 & \$ 30 \\2 & 28 \\3 & 26 \\4 & 24 \\5 & 22\end{array}$$
-If the marginal cost were $22,the firm would maximize its profit at _____ unit(s) of output.

• A)1
• B)2
• C)3
• D)4
• E)5

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Definitions:

Internal Cost

Expenses that are directly attributable to a specific project or activity, including materials, labor, and direct overhead.

Domestic Car

A vehicle manufactured within a country, typically marketed and sold to the residents of that country.

Manufacture

The process of producing goods on a large scale using labor, machines, tools, and chemical or biological processing.

Demand Curves

A graphical representation showing the relationship between the price of a good or service and the quantity demanded for a given period.