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Use the Following to Answer Questions

Question 108

Multiple Choice

Use the following to answer questions:
Figure: Prices, Cost Curves, and Profits Use the following to answer questions: Figure: Prices, Cost Curves, and Profits   -(Figure: Prices, Cost Curves, and Profits)  Look at the figure Prices, Cost Curves, and Profits. If the price is P<sub>2 </sub>and the firm is profit-maximizing, then the firm's profit is: A)  (fg)  × Q<sub>3.</sub> B)  (de)  × Q<sub>2.</sub> C)  (fg)  × Q<sub>2</sub>. D)  (de)  × P<sub>2</sub>.
-(Figure: Prices, Cost Curves, and Profits) Look at the figure Prices, Cost Curves, and Profits. If the price is P2 and the firm is profit-maximizing, then the firm's profit is:


A) (fg) × Q3.
B) (de) × Q2.
C) (fg) × Q2.
D) (de) × P2.

Correct Answer:

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