Multiple Choice
The figure below shows the marginal cost (circles) and the average variable cost (crosses) 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 $5,000,what is the firm's producer surplus?
A) $30,000
B) $18,400
C) $13,700
D) $4,900
Correct Answer:
Verified
Correct Answer:
Verified
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