Figure 7-5 Figure 7-5 Shows Cost and Demand Curves

question 91

Multiple Choice

Figure 7-5 Figure 7-5 shows cost and demand curves facing a typical firm in a constant-cost, perfectly competitive industry.
-Refer to Figure 7-5.If the market price is $20,what is the average profit at the profit-maximising quantity?

• A) $5
• B) $6
• C) $9
• D) $20

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Definitions:

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