Table 14-3
The table represents a demand curve faced by a firm in a competitive market.
-Refer to Table 14-3. For this firm, the price is
A)$39.
B)$26.
C)$13.
D)$0.

Question

Table 14-3
The table represents a demand curve faced by a firm in a competitive market. 
-Refer to Table 14-3. For this firm, the price is
A)$39. 
B)$26. 
C)$13. 
D)$0.

Quizplus · Accepted Answer

According to the table, the quantity demanded at a price of $13 is 8 units, which is the highest quantity demanded at any price. Therefore, the firm should choose to produce and sell 8 units at a price of $13 to maximize their profits.

Table 14-3 The Table Represents a Demand Curve Faced by a Firm