Table 11-2 In Table 11-2, average cost at the profit-maximizing output is how much?
A)$5
B)$8
C)$10
D)$11

Name: Table 11-2 In Table 11-2, average cost at the profit-maximizing output is how much? A)$5 B)$8 C)$10 D)$11
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Question

Table 11-2  In Table 11-2, average cost at the profit-maximizing output is how much?
A)$5 
B)$8 
C)$10 
D)$11

Quizplus · Accepted Answer

The profit-maximizing output is where marginal revenue equals marginal cost, which occurs at a quantity of 4. At a quantity of 4, the average cost is $10. Therefore, the answer is C.

Table 11-2 in Table 11-2, Average Cost at the Profit-Maximizing