Assume a price-taking firm faces the following marginal costs: Quantity 0 1 2 3 4 5...
Assume a price-taking firm faces the following marginal costs:
| Quantity | 0 | 1 | 2 | 3 | 4 | 5 | 6 |
| Marginal Cost | n/a | 4 | 3 | 5 | 6 | 8 | 10 |
If the market price is $8 and this firm has no fixed costs, how much profit will it make?
Group of answer choices
a profit = 64
b profit = 14
c profit = 10
d profit = 40
Homework Answers
option
(b)
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Assume a price-taking firm faces the following marginal
costs:
Quantity
0
1
2
3
4
5...
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