Table 14-10
Suppose that a firm in a competitive market faces the following revenues and costs:
-Refer to Table 14-10. If the firm produces the profit-maximizing level of production, how much profit will the firm earn?
A)$2
B)$4
C)$6
D)$8

Question

Table 14-10
Suppose that a firm in a competitive market faces the following revenues and costs: 
-Refer to Table 14-10. If the firm produces the profit-maximizing level of production, how much profit will the firm earn?
A)$2 
B)$4 
C)$6 
D)$8

Quizplus · Accepted Answer

The profit-maximizing level of production occurs where marginal cost equals marginal revenue. Based on the given options, the firm earns a profit of $6 at this level.

Table 14-10 Suppose That a Firm in a Competitive Market Faces the Faces