The accompanying table applies to a purely competitive industry composed of 100 identical firms. If each of the 100 firms in the industry is maximizing its profit, each must have a marginal cost of
A)$5.
B)$4.
C)$3.
D)$2.

Question

The accompanying table applies to a purely competitive industry composed of 100 identical firms. If each of the 100 firms in the industry is maximizing its profit, each must have a marginal cost of
A)$5. 
B)$4. 
C)$3. 
D)$2.

Quizplus · Accepted Answer

The Answer of  The accompanying table applies to a purely competitive industry composed of 100 identical firms. If each of the 100 firms in the industry is maximizing its profit, each must have a marginal cost of
A)$5. 
B)$4. 
C)$3. 
D)$2.

The Accompanying Table Applies to a Purely Competitive Industry Composed