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Refer to the Following:
Total Cost Schedule for a Competitive

Question 17

Multiple Choice

Refer to the following:
Total cost schedule for a competitive firm:
 Output  Total Cost 0$10160280311041655245\begin{array} { c c } \text { Output } & \text { Total Cost } \\\hline 0 & \$ 10 \\1 & \mathbf { 6 0 } \\\mathbf { 2 } & \mathbf { 8 0 } \\\mathbf { 3 } & 110 \\4 & 165 \\5 & \mathbf { 2 4 5 } \\\hline\end{array}
-If market price is $60, how many units of output will the firm produce?


A) Zero units of output because the firm shuts down.
B) 1 unit of output.
C) 2 units of output.
D) 3 units of output.
E) none of the above.

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