The Figure Given Below Shows the Cost Curves of a Firm

question 20

Multiple Choice

The figure given below shows the cost curves of a firm. Figure 22.3 ATC: Average Total Cost
AVC: Average Variable Cost
MC: Marginal Cost
In Figure 22.3, if the marginal revenue of the firm is constant at $55, calculate the profit earned by the firm?

• A)$35
• B)$40
• C)$600
• D)$4, 800
• E)$0

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Definitions:

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