Table 14-9
A firm in a competitive market has the following cost structure:
-Refer to Table 14-9. Consider a competitive market with 50 identical firms. Suppose the market demand is given by the equation QD = 200 ? 10P and the market supply is given by the equation QS = 10P. How many units should a firm in this market produce to maximize profit?
A) 1 unit
B) 2 units
C) 3 units
D) 4 units
Correct Answer:
Verified
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