Figure 15-4
-Refer to Figure 15-4. Profit will be maximized by charging a price equal to
A)P5.
B)P4.
C)P3.
D)P1.

Name: Figure 15-4 -Refer to Figure 15-4. Profit will be maximized by charging a price equal to A)P5. B)P4. C)P3. D)P1.
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Question

Figure 15-4 
-Refer to Figure 15-4. Profit will be maximized by charging a price equal to
A)P5. 
B)P4. 
C)P3. 
D)P1.

Quizplus · Accepted Answer

Profit is maximized when marginal cost equals marginal revenue. In Figure 15-4, this occurs at an output of Q3 and a price of P5.

Figure 15-4 -Refer to Figure 15-4. Profit Will Be Maximized by Charging