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Refer to the Following Table Which Gives the Demand and Cost

Question 15

Multiple Choice

Refer to the following table which gives the demand and cost data for a price-setting firm:  Price  Output  Total Cost $207$361984518954171063161172151281\begin{array}{rrc}\text { Price } & \text { Output } & \text { Total Cost } \\\hline \$ 20 & 7 & \$ 36 \\19 & 8 & 45 \\18 & 9 & 54 \\17 & 10 & 63 \\16 & 11 & 72 \\15 & 12 & 81\end{array}
What is the profit-maximizing price?


A) $19
B) $18
C) $17
D) $16
E) $15

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