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Refer to the Graph Shown

Question 77

Multiple Choice

Refer to the graph shown. If the market price is P4, the maximum profit the firm can earn is: Refer to the graph shown. If the market price is P<sub>4</sub>, the maximum profit the firm can earn is: A) Q<sub>4</sub> multiplied by P<sub>4</sub>. B) Q<sub>3</sub> multiplied by P<sub>3</sub>. C) Q<sub>4</sub> multiplied by the difference between P<sub>4</sub> and P<sub>3</sub>. D) Q<sub>3</sub> multiplied by the difference between P<sub>3</sub> and P<sub>2</sub>.


A) Q4 multiplied by P4.
B) Q3 multiplied by P3.
C) Q4 multiplied by the difference between P4 and P3.
D) Q3 multiplied by the difference between P3 and P2.

Correct Answer:

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