Figure 7.1
-Refer to Figure 7.1.If the firm is producing 700 units,
A) it is making a profit.
B) it is incurring a loss.
C) it should cut back its output to maximise profit.
D) it should increase its output to maximise profit.

Question

Figure 7.1 
-Refer to Figure 7.1.If the firm is producing 700 units,
A) it is making a profit. 
B) it is incurring a loss. 
C) it should cut back its output to maximise profit. 
D) it should increase its output to maximise profit.

Quizplus · Accepted Answer

The Answer of Figure 7.1 
-Refer to Figure 7.1.If the firm is producing 700 units,
A) it is making a profit. 
B) it is incurring a loss. 
C) it should cut back its output to maximise profit. 
D) it should increase its output to maximise profit.

Figure 7.1 -Refer to Figure 7.1.If the Firm Is Producing 700 Units