Refer to the Information Provided in Table 8 -Refer to Table 8

question 128

Multiple Choice

Refer to the information provided in Table 8.5 below to answer the following questions.
Table 8.5 $$\begin{array} { c l l l l } \begin{array} { c } \text { Number of } \\\text { Fruit Baskets }\end{array} & \text { TFC } & \text { TVC } & \text { TC } & \text { MC } \\\hline 0 & \$ 50 & \$ 0 & \$ 50 & - - \\1 & 50 & 10 & 60 & 10 \\2 & 50 & 15 & 65 & 5 \\3 & 50 & 21 & 71 & 6 \\4 & 50 & 31 & 81 & 10 \\5 & 50 & 46 & 96 & 15 \\6 & 50 & 68 & 118 & 22\end{array}$$
-Refer to Table 8.5. Assume that fruit baskets are sold in a perfectly competitive market. The market price of a fruit basket is $22. To maximize profits, Exotic Fruit should sell ________ fruit baskets and their profit is ________.

• A) three; $5
• B) four; $7
• C) five; $14
• D) six; $14

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