The Figure Given Below Shows the Revenue and Cost Curves

question 130

Multiple Choice

The figure given below shows the revenue and cost curves of a perfectly competitive firm. Figure 9.2 MC: Marginal cost curve
MR: Marginal revenue curve
ATC: Average-total-cost curve
AVC: Average-variable-cost curve
Refer to Figure 9.2.Compute the profit earned by the firm at the profit-maximizing level of output.

• A)$300
• B)$450
• C)$700
• D)$500
• E)$350

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Definitions:

Evaporation

The process by which water changes from a liquid to a gas or vapor, often contributing to the water cycle.

Perspiration

The process of sweating, through which the body releases heat and moisture.

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A medical term for itching, a sensation that leads to the desire to scratch.

Alopecia

A condition resulting in partial or complete loss of hair.