Question 12 (1 point) MC ATC AVC 5 6 Quantity (in Millions) The above graph indicates the cost conditions for a firm operating in a price-taker market. If the market price of the product in the a...

Question

Question

Answer 1

Answer #1

Setting P = MC for profit maximization

When P = MC = 8

Quantity = 6 m

Last option is correct

Answer 2

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