The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for the firm's product is $32, the competitive firm should produce
A)10 units at an economic profit of $4.
B)8 units at an economic profit of $2.
C)8 units at an economic profit of $16.
D)10 units at an economic profit of $20.

Question

The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for the firm's product is $32, the competitive firm should produce
A)10 units at an economic profit of $4. 
B)8 units at an economic profit of $2. 
C)8 units at an economic profit of $16. 
D)10 units at an economic profit of $20.

Quizplus · Accepted Answer

The Answer of  The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for the firm's product is $32, the competitive firm should produce
A)10 units at an economic profit of $4. 
B)8 units at an economic profit of $2. 
C)8 units at an economic profit of $16. 
D)10 units at an economic profit of $20.

The Accompanying Table Gives Cost Data for a Firm That