Use the figure below to answer the following question.
Figure 12.3.5
-Refer to Figure 12.3.5, which shows the cost curves and the marginal revenue curve for a perfectly competitive firm. To maximize its profit, the firm produces ________ units of output and the price is ________ a unit.
A) 30; $40
B) 30; $30
C) 20; $40
D) 20; $30
E) 30; $32.50
Correct Answer:
Verified
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