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.What are the firm's profit-maximizing or loss-minimizing price and quantity?

A) price = $10; quantity = 5.
B) price = $12; quantity = 4.
C) The firm should shut down temporarily.
D) This cannot be determined from the information given.