ATC 3 45 67 8 9 10 11 uantity Refer to the graph of Market 1. A monopolistically

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ATC 3 45 67 8 9 10 11 uantity Refer to the graph of Market 1. A monopolistically competitive firm with the unit cost curves displayed in the graph would maximize profit by producing OA. None of the above is correct. O B. 6-5 units of output. ° C. 6 units of output. D.4 units of output. QUESTION 21 -maximizing perfectly competitive frm currently charges the price of $10. The firm also incurs the average total cost of $8, the average variable cost of $7. From this OA, $10 O B. None of the above information, we can conclude that the marginal cost of the firm is Click Save and Submit to save and submit. Click Save All Answers to save all answers Save All Answers

Explanation / Answer

21. A) $ 10

Perfectly competitive firm maximizes profit where P = MC. So, MC = $ 10

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