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Under Pure Competition, the Market Price of an Output Is

Question 353

Multiple Choice

Under pure competition, the market price of an output is $3. The output schedule of a firm using input X is listed in the table. If the price of input X is $12, how many units of input X will the firm employ to maximize profits? Under pure competition, the market price of an output is $3. The output schedule of a firm using input X is listed in the table. If the price of input X is $12, how many units of input X will the firm employ to maximize profits? A) 4 B) 5 C) 7 D) 9


A) 4
B) 5
C) 7
D) 9

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