Figure 12-1 -Refer to Figure 12-1.If the Firm Is Producing 700 Units

Multiple Choice

Figure 12-1

-Refer to Figure 12-1.If the firm is producing 700 units, what is the amount of its profit or loss?

A) loss of $280
B) loss equivalent to the area A
C) profit equivalent to the area A
D) There is insufficient information to answer the question.