In Figure 9-7, showing a firm in a perfectly competitive market, the selling price is:

Figure 9-7

Select one:

a.7 dollars

b.9 dollars

c.5 dollars

d.can't tell

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In Figure 9-7, the profit-maximizingquantityof output would be

Select one:

a.10.

b.15.

c.12.

d.can't tell.

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In Figure 9-7,total costat the profit-maximizing quantity of output would be

Select one:

a.$480.

b.$960.

c.$108.

d.$200.

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In Figure 9-7,total revenueat the profit-maximizing quantity of output would be

Select one:

a.$48.

b.$96.

c.$60.

d.$84.

Question10

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In Figure 9-7, calculate the total profit earned by the firm:

Select one:

a.$24 loss

b.$24 profit

c.$84 profit.

d.$108 loss.