Multiple Choice
Suppose a monopolistic competitor produces 2,000 units of the good in equilibrium and charges a price of $10 for each unit.If the average total cost of producing 2,000 units of the good is $6,what is the total profit earned by the producer?
A) $8,000
B) $4,000
C) $2,000
D) $20,000
Correct Answer:
Verified
Correct Answer:
Verified
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