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Question 196

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Figure: The Perfectly Competitive Firm II Use the following to answer questions: Figure: The Perfectly Competitive Firm II -(Figure: The Perfectly Competitive Firm II) Look at the figure The Perfectly Competitive Firm II. If this firm's MR curve is MR<sub>1</sub>, the firm will maximize profit by producing _____ units of output, and its economic profit will be _____. A) Q<sub>1</sub>; positive B) Q<sub>2</sub>; negative C) Q<sub>3</sub>; positive D) Q<sub>4</sub>; negative
-(Figure: The Perfectly Competitive Firm II) Look at the figure The Perfectly Competitive Firm II. If this firm's MR curve is MR1, the firm will maximize profit by producing _____ units of output, and its economic profit will be _____.


A) Q1; positive
B) Q2; negative
C) Q3; positive
D) Q4; negative

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