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 $3.25, the firm's profit maximizing output is ________ and the firm's maximum profit is ________.
A) 1,200 units; $1,200
B) 1,200 units; $1,800
C) 1,100 units; $875
D) 1,100 units; $600
Correct Answer:
Verified
Correct Answer:
Verified
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