Question 5(5 points)

Table 14-10

Suppose that a firm in a competitive market faces the following revenues and costs:

Quantity

Total Revenue

Total Cost

0

$0

$3

1

$7

$5

2

$14

$9

3

$21

$15

4

$28

$23

5

$35

$33

6

$42

$45

7

$49

$59

Refer to Table 14-10. If the firm produces the profit-maximizing level of production, how much profit will the firm earn?

Question 5 options:

a)

$2

b)

$4

c)

$6

d)

$8