The Total Fixed Costs of a Perfectly-Competitive Manufacturer Are $500,and

question 90

Multiple Choice

The total fixed costs of a perfectly-competitive manufacturer are $500,and its marginal costs are as follows:

-Refer to the above information to answer this question.If the price of the product is $70,how many will the manufacturer produce and what will be its profit or loss?

• A)0 and a loss of $500.
• B)3 and a loss of $30.
• C)3 and a loss of $530.
• D)5 and a profit of $200.
• E)8 and a profit of $140.

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Definitions:

Groups

Collections of individuals who come together to form a unit or a team, often with a common goal or purpose.

Father Smokes

A situation where a child's father habitual engages in smoking tobacco, potentially influencing the child's environment and health.

Pregnant Mother

A woman in the state of carrying a developing embryo or fetus within her body.

Infant

An infant or newborn, generally younger than one year old.