The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for the firm's product is $12, the competitive firm should produce
A)4 units at an economic loss of $109.
B)4 units at an economic profit of 31.75.
C)8 units at an economic loss of $48.80.
D)zero units at an economic loss of $100.

Question

The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for the firm's product is $12, the competitive firm should produce
A)4 units at an economic loss of $109. 
B)4 units at an economic profit of 31.75. 
C)8 units at an economic loss of $48.80. 
D)zero units at an economic loss of $100.

Quizplus · Accepted Answer

The Answer of  The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for the firm's product is $12, the competitive firm should produce
A)4 units at an economic loss of $109. 
B)4 units at an economic profit of 31.75. 
C)8 units at an economic loss of $48.80. 
D)zero units at an economic loss of $100.

The Accompanying Table Gives Cost Data for a Firm That