Figure 7-1
-Refer to Figure 7-1.If the firm is producing 700 units,what is the amount of its profit or loss?
A) Loss of $280
B) Loss equivalent to the area A
C) Profit equivalent to the area A
D) There is insufficient information to answer the question.

Question

Figure 7-1 
-Refer to Figure 7-1.If the firm is producing 700 units,what is the amount of its profit or loss?
A) Loss of $280 
B) Loss equivalent to the area A 
C) Profit equivalent to the area A 
D) There is insufficient information to answer the question.

Quizplus · Accepted Answer

Without access to Figure 7-1 or additional information about costs, revenues, or prices, it is impossible to determine the firm's profit or loss.

Figure 7-1 -Refer to Figure 7-1.If the Firm Is Producing 700 Units,what