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 will produce
A)8 units at an economic profit of $16.
B)6 units at an economic profit of $7.98.
C)10 units at an economic profit of $4.
D)7 units at an economic profit of $41.50.

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 will produce
A)8 units at an economic profit of $16. 
B)6 units at an economic profit of $7.98. 
C)10 units at an economic profit of $4. 
D)7 units at an economic profit of $41.50.

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 will produce
A)8 units at an economic profit of $16. 
B)6 units at an economic profit of $7.98. 
C)10 units at an economic profit of $4. 
D)7 units at an economic profit of $41.50.

The Accompanying Table Gives Cost Data for a Firm That