Table 14-5
Suppose that a firm in a competitive market faces the following revenues and costs:

$$\begin{array} { | c | c | c | }
\hline \begin{array} { c }
\text { Quantity } \
\text { (Units) }
\end{array} & \begin{array} { c }
\text { Marginal Cost } \
\text { (Dollars) }
\end{array} & \begin{array} { c }
\text { Marginal Revenue } \
\text { (Dollars) }
\end{array} \
\hline 12 & 5 & 7 \
\hline 13 & 6 & 7 \
\hline 14 & 7 & 7 \
\hline 15 & 8 & 7 \
\hline 16 & 9 & 7 \
\hline 17 & 10 & 7 \
\hline
\end{array}$$
-Refer to Table 14-5. If the firm is currently producing 14 units, what would you advise the owners?

Question

Table 14-5
Suppose that a firm in a competitive market faces the following revenues and costs:
​
 $$\begin{array} { | c | c | c | } 
\hline \begin{array} { c } 
\text { Quantity } \
\text { (Units) }
\end{array} & \begin{array} { c } 
\text { Marginal Cost } \
\text { (Dollars) }
\end{array} & \begin{array} { c } 
\text { Marginal Revenue } \
\text { (Dollars) }
\end{array} \
\hline 12 & 5 & 7 \
\hline 13 & 6 & 7 \
\hline 14 & 7 & 7 \
\hline 15 & 8 & 7 \
\hline 16 & 9 & 7 \
\hline 17 & 10 & 7 \
\hline
\end{array}$$
-Refer to Table 14-5. If the firm is currently producing 14 units, what would you advise the owners?

Quizplus · Accepted Answer

The Answer of Table 14-5
Suppose that a firm in a competitive market faces the following revenues and costs:
​
 $$\begin{array} { | c | c | c | } 
\hline \begin{array} { c } 
\text { Quantity } \
\text { (Units) }
\end{array} & \begin{array} { c } 
\text { Marginal Cost } \
\text { (Dollars) }
\end{array} & \begin{array} { c } 
\text { Marginal Revenue } \
\text { (Dollars) }
\end{array} \
\hline 12 & 5 & 7 \
\hline 13 & 6 & 7 \
\hline 14 & 7 & 7 \
\hline 15 & 8 & 7 \
\hline 16 & 9 & 7 \
\hline 17 & 10 & 7 \
\hline
\end{array}$$
-Refer to Table 14-5. If the firm is currently producing 14 units, what would you advise the owners?

Table 14-5 Suppose That a Firm in a Competitive Market

Table 14-5
Suppose That a Firm in a Competitive Market