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Remaining Time: 53 minutes, 23 seconds. Question Completion Status: 2 20 ED 13 14 16 17 18 19 20 221 23 32 33 34 35

Remaining Time: 53 minutes, 23 seconds. Question Completion Status: 2 20 ED 13 14 16 17 18 19 20 221 23 32 33 34 35 36 37 38 39 40 HI QUESTION 20 This question relates to the information given below Assume that a profit maximizing, perfectly competitive firm has the following costs (qoutput) Total Costs Total Costs TC 100 TC-400+100+202 MC-10-40 fq=0 q 0 fg 0 Marginal Cost What is the greatest possible profit that this profit maximizing firm can eam from producing 20 units (ie. when q=201? a. -$100 b. $1800) c. $400 d. $1400 e. none of the above QUESTION 21

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