Refer to the Data Provided in Table 9 -Refer to Table 9

question 80

Multiple Choice

Refer to the data provided in Table 9.2 below to answer the question(s) that follow.
Table 9.2 $$\begin{array} { l l l l l l l } \text { q } & \text { TFC } & \text { TVC } & \text { TC } & \text { MC } & \text { AVC } & \text { ATC } \\\hline 0 & \$ 50 & \$ 0 & \$ 50 & - - & - - & - - \\1 & 50 & 20 & 70 & 20 & 20 & 70 \\2 & 50 & 30 & 80 & 10 & 15 & 40 \\3 & 50 & 45 & 95 & 15 & 15 & 31.67 \\4 & 50 & 62 & 112 & 17 & 15.50 & 28 \\5 & 50 & 90 & 140 & 28 & 18 & 28 \\6 & 50 & 132 & 182 & 42 & 22 & 30.33 \\7 & 50 & 186 & 236 & 54 & 26.57 & 33.71 \\\hline\end{array}$$
-Refer to Table 9.2. If the market price is $17 and the firm produces 4 units of output, then its profit would be

• A) -$50.
• B) -$44.
• C) $0.
• D) $18.

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Definitions:

Constituents

Individuals or groups represented by an elected official or organization, often used in the context of legislative bodies or unions.

Workplace

A location where people are employed and carry out tasks related to their jobs, often a physical location like an office or factory.

Labor Problem

Issues or conflicts arising between employers and employees regarding working conditions, wages, hours, and other employment terms.

Standards

Predetermined models or metrics used to measure quality, performance, or compliance in various fields.