Use the Following to Answer Question

question 107

Multiple Choice

Use the following to answer question:
-(Table: Total Cost and Output) Use Table: Total Cost and Output,which describes Sergei's total costs for his perfectly competitive all-natural ice cream firm.If the market price of a tub of ice cream is $67.50,how much is Sergei's total revenue at the profit-maximizing output?

• A)$270.00
• B)$170.00
• C)$100.00
• D)$67.50

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Definitions:

Rent Controls

Government-imposed limits on the rent landlords can charge tenants.

Rental Units

Housing accommodations that are leased to tenants, typically involving a payment made at regular intervals for the use of the property.

Surplus

An excess of supply over demand in a market, leading to lower prices or unused stock.

Price Control

Government-imposed limits on the prices that can be charged for goods and services in the market, to protect consumers and prevent market abuse.