The Following Table Shows a Profit-Maximizing Producer's Marginal Costs

question 6

Multiple Choice

The following table shows a profit-maximizing producer's marginal costs.The firm is operating in a perfectly competitive market and has fixed costs of $500.

-Refer to the above information to answer this question.If the price is $250,what is the optimal output and what is the profit or loss?

• A)0 and a loss of $500.
• B)4 and a loss of $120.
• C)5 and a loss of $100.
• D)5 and a loss of $400.
• E)6 and a loss of $150.

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Definitions:

Conditional Positive Regard

A concept suggesting that acceptance and love from others are contingent upon one's behavior meeting certain conditions or standards.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, considered a drive or need present in everyone.

Predetermined

Something established or decided in advance, not subject to change or influence by subsequent events.

Actualization Tendency

The innate drive in humans towards growth, fulfillment of potential, and self-realization, often associated with the humanistic psychology of Carl Rogers.