Multiple Choice
The figure below shows the cost curves of a firm in a competitive market. The firm always makes the choice to maximize its profit.
-Refer to the figure above.If the market price of the product is $1.50,the firm's profit maximizing output is ________ and its maximum profit is ________.
A) 1,200 units; -$900
B) 1,100 units; -$300
C) 900 units; $0.00
D) 0 or 900 units; -$600
Correct Answer:
Verified
Correct Answer:
Verified
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