Table 13-5 Table 13-5 Shows the Demand and Cost Data Facing a and Cost

Multiple Choice

Table 13-5

Table 13-5 shows the demand and cost data facing a monopolistically competitive producer of canvas bags.
-Refer to Table 13-5.At the profit-maximizing or loss-minimizing output level,

A) the firm makes a profit of $12.
B) the firm incurs a loss equal to its fixed cost.
C) the firm makes a profit of $16.
D) the firm incurs a loss of $14.