The Figure Given Below Shows the Demand and Cost Curves

question 97

Multiple Choice

The figure given below shows the demand and cost curves of a perfectly competitive firm.Figure: 10.4
D: Demand curve
MC: Marginal cost curve
ATC: Average-total cost curve
AVC: Average-variable-cost curve
-Refer to Figure 10.4. The firm faces a total _____ of _____.

• A)profit; $500
• B)profit; $2,500
• C)loss; $2,500
• D)loss; $650
• E)loss; $500

---

Definitions:

Federal Court System

The system of courts organized under the U.S. Constitution and laws of the federal government.

Executive Branch

The branch of government responsible for executing and enforcing laws, typically headed by the President or Prime Minister.

Deferential Consent

Agreement or consent given with respect or submission to someone's judgment or authority.

United States

A country located primarily in North America, consisting of 50 states and a federal district.