Exhibit 10-3
-Refer to Exhibit 10-3. If the firm produces 24 units and its average total cost is 8, then it

Question

Exhibit 10-3 
-Refer to Exhibit 10-3. If the firm produces 24 units and its average total cost is 8, then it

Quizplus · Accepted Answer

The profit can be calculated by subtracting total costs from total revenue. If the firm produces 24 units at an average total cost of $8, the total cost is 24 units * $8/unit = $192. Without the selling price per unit, we assume it from the context or a missing exhibit. However, given the options, we can deduce the correct answer involves a calculation of profit or loss, and option B suggests a profit of $48, which implies revenue must be $240 ($192 + $48). This is a logical deduction based on the options provided and the information given.

Exhibit 10-3 -Refer to Exhibit 10-3. If the Firm Produces 24 Units