Multiple Choice
Refer to the following figure:
The figure above shows the demand and cost curves facing a price-setting firm.
-In profit-maximizing (or loss-minimizing) equilibrium, the price-setting firm earns $______ in total revenue, which is ___________ the maximum possible total revenue of $________.
A) $7,500; equal to; $7,500
B) $8,000; more than; $7,500
C) $7,650; less than; $8,000
D) $8,000; equal to; $8,000
E) $7,500; less than; $8,000
Correct Answer:

Verified
Correct Answer:
Verified
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