Use the figure to answer the following question(s).
Figure 9-11
-Which of the following indicates the firm's profit (or loss) at the profit-maximizing output in Figure 9-11?

Question

Use the figure to answer the following question(s).
Figure 9-11 
-Which of the following indicates the firm's profit (or loss) at the profit-maximizing output in Figure 9-11?

Quizplus · Accepted Answer

Zero economic profit occurs when the firm's total revenue equals its total cost. At the profit-maximizing output in Figure 9-11, the firm's total revenue is equal to its total cost, so the firm is earning zero economic profit.

Use the Figure to Answer the Following Question(s)