Table 11-2 In Table 11-2, the price at the profit-maximizing output is how much?
A)$15
B)$7
C)$10
D)$11

Name: Table 11-2 In Table 11-2, the price at the profit-maximizing output is how much? A)$15 B)$7 C)$10 D)$11
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Question

Table 11-2  In Table 11-2, the price at the profit-maximizing output is how much?
A)$15 
B)$7 
C)$10 
D)$11

Quizplus · Accepted Answer

The profit-maximizing output is when marginal revenue (MR) equals marginal cost (MC). From the table, the MR for the 5th unit is $11 and the MC for the 5th unit is also $11. Therefore, the price at the profit-maximizing output is $11.

Table 11-2 in Table 11-2, the Price at the Profit-Maximizing