Use the Following Figure to Answer the Question : Figure

question 50

Multiple Choice

Use the following figure to answer the question : Figure 9-3 : shows the marginal cost curve,average total cost curve,average variable cost curve,and marginal revenue curve for a firm for different levels of output.
-Refer to Figure 9-3.At the profit-maximizing level of output:

• A)the firm is earning economic profit.
• B)profits per unit are the highest.
• C)profit equals ZC.
• D)costs exceed revenue.

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Definitions:

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Minor Premise

In a syllogism, the statement that provides a specific instance of the general statement made in the major premise leading to a conclusion.

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Major Premise

In a categorical syllogism, the premise in which the major term appears.