Question
Quantity of Pizzas Produced Marginal Cost 0 -- 1 $12 2 $10 3 $8 4 $5 5 $4 6 $8 7 $12 12. The pizza
Quantity of Pizzas Produced Marginal Cost 0 -- 1 $12 2 $10 3 $8 4 $5 5 $4 6 $8 7 $12
| Quantity of Pizzas Produced | Marginal Cost |
| 0 | -- |
| 1 | $12 |
| 2 | $10 |
| 3 | $8 |
| 4 | $5 |
| 5 | $4 |
| 6 | $8 |
| 7 | $12 |
12. The pizza restaurant reflected in the table above is a firm in a perfectly competitive market. Each time the restaurant sells an additional pizza, its total revenue increases by $5. The marginal cost of producing different quantities of pizza is given in the table above. The profit-maximizing quantity of output is ________ pizzas.
Group of answer choices
6
7
4
5
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Economics And The Environment A Materials Balance Approach
Authors: Allen V Kneese, Robert U Ayres, Ralph C D'Arge
1st Edition
1317402251, 9781317402251
