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Refer to the Information Provided in Table 8 -Refer to Table 8

Question 192

Multiple Choice

Refer to the information provided in Table 8.5 below to answer the question(s) that follow.
Table 8.5
 Number of  Swords  TVC  MC  AVC  TFC  TC  AFC  ATC 050125247.50323.3341505135\begin{array} { c c c c c c c c } \hline \begin{array} { c } \text { Number of } \\\text { Swords }\end{array} & \text { TVC } & \text { MC } & \text { AVC } & \text { TFC } & \text { TC } & \text { AFC } & \text { ATC } \\\hline 0 & & & & & 50 & \\\hline 1 & & 25 & & & & & \\\hline 2 & & & & & &&47.50 \\\hline 3 & & & 23.33 & & & \\\hline 4 & & & & & 150 & & \\\hline 5 & 135 & & & & & & \\\hline\end{array}
-Refer to Table 8.5. Assume that Phoebe is producing swords in a perfectly competitive market and the market price for swords is $30. To maximize profits Phoebe should produce ________ swords.


A) two
B) three
C) four
D) five

Correct Answer:

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