Table 12-2 Table 12-2 Lists the Various Pounds (Lbs.)of Apples That Margie

question 27

Multiple Choice

Table 12-2

Table 12-2 lists the various pounds (lbs.) of apples that Margie Stattler can sell. Assume that Margie operates in a perfectly competitive market.
-Refer to Table 12-2.How many pounds of apples should Margie sell to maximize her profit?

• A)300 pounds
• B)400 pounds
• C)This cannot be determined without knowing Margie's total or marginal production costs.
• D)This can be determined only when all of the values for market price, total revenue, average revenue and marginal revenue are given.

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