Assume the price of a product sold by a purely competitive firm is $5. Given the data in the accompanying table, at what output level is total profit highest in the short run? $\begin{array} { | c | c | }
\hline \text { Output } & \text { Total Cost } \
\hline 20 & \$ 70 \
\hline 25 & 75 \
\hline 30 & 85 \
\hline 35 & 100 \
\hline 40 & 125 \
\hline 45 & 155 \
\hline 50 & 190 \
\hline
\end{array}$
A) 20
B) 30
C) 40
D) 50

Question

Assume the price of a product sold by a purely competitive firm is $5. Given the data in the accompanying table, at what output level is total profit highest in the short run? $\begin{array} { | c | c | } 
\hline \text { Output } & \text { Total Cost } \
\hline 20 & \$ 70 \
\hline 25 & 75 \
\hline 30 & 85 \
\hline 35 & 100 \
\hline 40 & 125 \
\hline 45 & 155 \
\hline 50 & 190 \
\hline
\end{array}$
A) 20
B) 30
C) 40
D) 50

Quizplus · Accepted Answer

The Answer of Assume the price of a product sold by a purely competitive firm is $5. Given the data in the accompanying table, at what output level is total profit highest in the short run? $\begin{array} { | c | c | } 
\hline \text { Output } & \text { Total Cost } \
\hline 20 & \$ 70 \
\hline 25 & 75 \
\hline 30 & 85 \
\hline 35 & 100 \
\hline 40 & 125 \
\hline 45 & 155 \
\hline 50 & 190 \
\hline
\end{array}$
A) 20
B) 30
C) 40
D) 50

Assume the Price of a Product Sold by a Purely