Table 14-7
Suppose that a firm in a competitive market faces the following revenues and costs:
-Refer to Table 14-7. If the firm is maximizing profit, how much profit is it earning?
A)$0.50
B)$7.50
C)$10
D)There is insufficient data to determine the firm's profit.

Question

Table 14-7
Suppose that a firm in a competitive market faces the following revenues and costs: 
-Refer to Table 14-7. If the firm is maximizing profit, how much profit is it earning?
A)$0.50 
B)$7.50 
C)$10 
D)There is insufficient data to determine the firm's profit.

Quizplus · Accepted Answer

There is insufficient data provided in the question to determine the firm's profit. The table referred to is not provided, so we cannot calculate profit without knowing the firm's costs and revenues.

Table 14-7 Suppose That a Firm in a Competitive Market Faces the Faces