Right Panel: The market: a shift of short-run supply in response to an increase in demand.
-Refer to the diagrams above.If the market demand for wheat and the market supply of wheat are represented by D and SRS,respectively,the total costs of the firm at the profit-maximizing output are equal to
A) $1.10.
B) $1.20.
C) $11.
D) $11,000.
E) 10,000 bushels.

Question

Right Panel: The market: a shift of short-run supply in response to an increase in demand. 
-Refer to the diagrams above.If the market demand for wheat and the market supply of wheat are represented by D and SRS,respectively,the total costs of the firm at the profit-maximizing output are equal to
A) $1.10. 
B) $1.20. 
C) $11. 
D) $11,000. 
E) 10,000 bushels.

Quizplus · Accepted Answer

The total costs of the firm at the profit-maximizing output are represented by the area under the supply curve up to the quantity produced, which is given as $11,000.

Right Panel: the Market: a Shift of Short-Run Supply in Response