Scenario 14-1 Assume a Certain Firm in a Competitive Market Is Producing

Multiple Choice

Scenario 14-1
Assume a certain firm in a competitive market is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit.
-Refer to Scenario 14-1. At Q = 999, the firm's total costs equal

A) $10,985.
B) $10,990.
C) $10,995.
D) $10,999.