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The Figure Below Shows the Marginal Cost (Circles) and the Average

Question 3

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.
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
-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:

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