Refer to the information provided in Figure 13.4 below to answer the question(s) that follow. Figure 13.4
-Refer to Figure 13.4. If this firm produces the profit-maximizing quantity and sells it at the profit-maximizing price, the firm's ________ will be $88.
A) loss
B) profit
C) total cost
D) total revenue

Question

Refer to the information provided in Figure 13.4 below to answer the question(s) that follow.  Figure 13.4
-Refer to Figure 13.4. If this firm produces the profit-maximizing quantity and sells it at the profit-maximizing price, the firm's ________ will be $88.
A) loss 
B) profit 
C) total cost 
D) total revenue

Quizplus · Accepted Answer

The profit-maximizing quantity and price are determined where marginal cost equals marginal revenue, leading to the highest possible profit. The difference between total revenue and total cost at this point is the firm's profit, not loss, total cost, or total revenue alone.

Refer to the Information Provided in Figure 13