Multiple Choice
Use the following to answer questions:
Figure: The Profit-Maximizing Output and Price
-(Figure: The Profit-Maximizing Output and Price) Look at the figure The Profit-Maximizing Output and Price. Assume that there are no fixed costs and AC = MC = $200. At the profit-maximizing output and price for a perfectly competitive industry, total surplus is:
A) $200.
B) $1,600.
C) $3,200.
D) $6,400.
Correct Answer:

Verified
Correct Answer:
Verified
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