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

question 56

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 $500,what is the optimal output and what is the profit or loss?

• A)5 and a profit of $1,150.
• B)6 and a profit of $1,200.
• C)7 and a profit of $560.
• D)7 and a profit of $1,430.
• E)8 and a profit of $1,330.

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