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Competitive industry firm a. 6 units b. 8 units c. 12 units d. 7 units COSTS Quantity Produced Total Cost $100 $150 $202 $257 $317

Competitive industry firm

a. 6 units

b. 8 units

c. 12 units

d. 7 units

image text in transcribed
COSTS Quantity Produced Total Cost $100 $150 $202 $257 $317 $385 $465 $562 $682 REVENUES Marginal Quantity Price Cost Demanded -- 0 $120 1 $120 2 $120 3 $120 4 $120 5 $120 6 $120 7 $120 8 $120 Total Revenue Margina Revenue In order to maximize profit, the firm indicated in Table 14-6, should set output at

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