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Table 14-9 Suppose That a Firm in a Competitive Market Faces the Faces

Question 109

Multiple Choice

Table 14-9
Suppose that a firm in a competitive market faces the following revenues and costs:
Table 14-9 Suppose that a firm in a competitive market faces the following revenues and costs: -Refer to Table 14-9.If the firm produces 4 units of output, A) marginal cost is $4. B) total revenue is greater than variable cost. C) marginal revenue is less than marginal cost. D) the firm is maximizing profit.
-Refer to Table 14-9.If the firm produces 4 units of output,

A) marginal cost is $4.
B) total revenue is greater than variable cost.
C) marginal revenue is less than marginal cost.
D) the firm is maximizing profit.

Correct Answer: