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Use the Following to Answer Questions

Question 150

Multiple Choice

Use the following to answer questions:
Figure: The Profit-Maximizing Firm in the Short Run Use the following to answer questions: Figure: The Profit-Maximizing Firm in the Short Run -(Figure: The Profit-Maximizing Firm in the Short Run) Look at the figure The Profit-Maximizing Firm in the Short Run. If the market price is P<sub>4</sub>, the firm will produce quantity _____ and _____ in the short run. A) q<sub>1</sub>; break even B) q<sub>3</sub>; make a profit C) q<sub>4</sub>; break even D) q<sub>5</sub>; lose fixed costs
-(Figure: The Profit-Maximizing Firm in the Short Run) Look at the figure The Profit-Maximizing Firm in the Short Run. If the market price is P4, the firm will produce quantity _____ and _____ in the short run.


A) q1; break even
B) q3; make a profit
C) q4; break even
D) q5; lose fixed costs

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