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31. Jack makes pies in a perfectly competitive market for baked goods. His cost schedule is reflected in the table below Quantity Total Cost $9

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31. Jack makes pies in a perfectly competitive market for baked goods. His cost schedule is reflected in the table below Quantity Total Cost $9 $11 2 $15 $21 A $29 U $39 Use marginal thinking to determine his production "optimum" if the price per pie in this competitive market is fixed and equal to $8/pie. a. He produces 0 units b. He produces 2 units c. He produces 4 units d. He produces 5 units e. Indeterminate

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