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Assume the price of a product sold by a purely competitive firm is $9. Given the data in the accompanying table, at what output level
Assume the price of a product sold by a purely competitive firm is $9. Given the data in the accompanying table, at what output level is total profit highest in the short run?
Output | Total Cost |
---|---|
20 | $ 125 |
25 | $ 130 |
30 | $ 140 |
35 | $ 170 |
40 | $ 190 |
45 | $ 245 |
50 | $ 335 |
rev: 04_30_2021_QC_CS-261775
Multiple Choice
- 40.
- 45.
- 50.
- 35.
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