A Perfectly Competitive Firm Produces 3,000 Units of a Good

question 93

Multiple Choice

A perfectly competitive firm produces 3,000 units of a good at a total cost of $36,000.The price of each good is $10.Calculate the firm's short-run profit or loss.

• A)loss of $6,000
• B)profit of $6,000
• C)profit of $30,000
• D)There is insufficient information to answer the question.

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Definitions:

Induction

A method of reasoning in which specific observations or instances are used to form a general conclusion or principle.

Manipulation

The act of controlling or influencing someone or something to achieve a desired outcome, often without the awareness of the person being influenced.

Adolescence

The period of life transitioning from childhood to adulthood, typically involving significant physical, psychological, and social changes.

Puberty

The period of sexual maturation during which a person becomes capable of reproduction.