The Figure Given Below Shows the Cost Curves of a Firm.Figure

question 34

Multiple Choice

The figure given below shows the cost curves of a firm.Figure 9.3
ATC: Average Total Cost
AVC: Average Variable Cost
MC: Marginal Cost
-In Figure 9.3, if the marginal revenue of the firm is constant at $55, calculate the profit earned by the firm at the profit-maximizing level of output?

• A)$35
• B)$40
• C)$600
• D)$4,800
• E)$0

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