Use the following to answer question(s):
Exhibit: Total Revenue, Total Cost, and Economic Profit

-(Exhibit: Total Revenue, Total Costs, and Economic Profit) Total revenue and total cost are equal at approximately _______ pounds and $ _______ .

Question

Use the following to answer question(s): 
Exhibit: Total Revenue, Total Cost, and Economic Profit
 
-(Exhibit: Total Revenue, Total Costs, and Economic Profit) Total revenue and total cost are equal at approximately _______ pounds and $ _______ .

Quizplus · Accepted Answer

Total revenue and total cost are equal when economic profit is zero, which occurs at the point where the total revenue curve intersects the total cost curve. Based on the given options, the correct intersection point is at approximately 4,500 pounds and $1,300.

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