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-Refer to the Above Table

Question 6

Multiple Choice

-Refer to the above table. This firm operates in a perfectly competitive market in which the market price is $10/unit. What is true when the firm produces 103 units? A) Total revenue equals $5,060. B) Total costs exceed total revenue by $403. C) Marginal revenue is less than marginal cost. D) Its total profit is $524.
-Refer to the above table. This firm operates in a perfectly competitive market in which the market price is $10/unit. What is true when the firm produces 103 units?


A) Total revenue equals $5,060.
B) Total costs exceed total revenue by $403.
C) Marginal revenue is less than marginal cost.
D) Its total profit is $524.

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