Take Test: Module 6 Quic x CSecure https//bb.csueastbay.edu/weba erlaunchjsp?cou

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Take Test: Module 6 Quic x CSecure https//bb.csueastbay.edu/weba erlaunchjsp?course-assessment-id·50340-1 &coursed; Question Completion Status: c.thezero profit nthelong run is in Tact. zeroaccountingprofit,ardor y mattersonthebooks o d. the producer has a high cost of exiting this market, and counting that cost, it's better for her to continue operating at QUESTION 4 Total r image Suppose the firm whose demand and cost curves are represented in the table above operates in a perfectly competitive ma profit-maximizing output? oa- 15 b.20 OC 25 d.30 QUESTIONS Click Save and Submit to save and submit. Click Save All Answers to save all answers O Type here to search ovo

Explanation / Answer

As we know that in a perfectly competitive industry, the firm will maximize their profit by selling the number of units for which MR=MC, thus first of all we will calculate MR and MC as below:-

From above table, MR=MC when the firm is producing 25 units, thus the correct answer is:-

25 units

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Output Price Total Revene Marginal Revenue Total Cost Marginal Cost 5 16 80 100 10 16 160 80 150 50 15 16 240 80 175 25 20 16 320 80 205 30 25 16 400 80 285 80 30 16 480 80 390 105

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