The following table gives the cost and demand data for a particular market.

-Refer to the above information to answer this question.Suppose that the data describes a perfectly competitive industry.What will be the total profit or loss of the industry at equilibrium?
A)$0.
B)Profit of $3.5.
C)Profit of $4.
D)Profit of $4.5.
E)Loss of $7.50.

Question

The following table gives the cost and demand data for a particular market.
 
-Refer to the above information to answer this question.Suppose that the data describes a perfectly competitive industry.What will be the total profit or loss of the industry at equilibrium?
A)$0. 
B)Profit of $3.5. 
C)Profit of $4. 
D)Profit of $4.5. 
E)Loss of $7.50.

Quizplus · Accepted Answer

The Answer of The following table gives the cost and demand data for a particular market.
 
-Refer to the above information to answer this question.Suppose that the data describes a perfectly competitive industry.What will be the total profit or loss of the industry at equilibrium?
A)$0. 
B)Profit of $3.5. 
C)Profit of $4. 
D)Profit of $4.5. 
E)Loss of $7.50.

The Following Table Gives the Cost and Demand Data for a Particular