The Figure Given Below Shows the Revenue and Cost Curves

question 129

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.If the marginal-revenue curve would have intersected the average-total-cost curve at its lowest point and the firm maximized profit, then total revenue would have been equal to:

• A)$500.
• B)$550.
• C)$600.
• D)$450.
• E)$400.

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Definitions:

Real Estate Agent

A licensed professional who acts as an intermediary between sellers and buyers of real estate, assisting in the sale, purchase, or rental of properties.

Data Validation

The process of ensuring that a program’s input data is correct, complete, and meets the desired criteria.

Validation Rule

A set of criteria or conditions that data must meet before it is accepted or processed by a system.

Unit Price

The cost per individual item or unit, enabling consumers to compare costs and make informed purchasing decisions.