Multiple Choice
Use the figure to answer the following question(s) .
Figure 9-4
Figure 9-4 indicates the cost conditions for a firm operating in a price-taker market. If the market price of the firm's product is $6, what action will maximize the firm's profit?
A) go out of business since it cannot make a profit
B) produce an output of 3 million
C) produce an output of 5 million
D) produce an output of 6 million
Correct Answer:
Verified
Correct Answer:
Verified
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