Consider the following total cost schedule for a perfectly competitive firm producing ball- point pens.
-Refer to Table 9- 3. Suppose the prevailing market price for this firm's product is $0.45. If the firm is producing 20 units of output per period, then its profit per unit is and its total profit per period is .
A) $6; $120
B) $0.40; $8
C) $9; $180
D) $0.01; $2
E) $0.05; $1.00
Correct Answer:
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