-Assume the firm in Figure 11-2 is currently producing 13 units of output and charging $380 each.The firm
A)will increase its profit if it raises its price and reduces its production level
B)will increase its profit if it lowers its price and expands its production level
C)cannot increase economic profit by changing its price and output since it is already maximizing its profit
D)will increase its profit if it raises its price and expands its production level
E)will increase its profit by lowering its price and reducing its production level

Question

-Assume the firm in Figure 11-2 is currently producing 13 units of output and charging $380 each.The firm
A)will increase its profit if it raises its price and reduces its production level 
B)will increase its profit if it lowers its price and expands its production level 
C)cannot increase economic profit by changing its price and output since it is already maximizing its profit 
D)will increase its profit if it raises its price and expands its production level 
E)will increase its profit by lowering its price and reducing its production level

Quizplus · Accepted Answer

The Answer of 
-Assume the firm in Figure 11-2 is currently producing 13 units of output and charging $380 each.The firm
A)will increase its profit if it raises its price and reduces its production level 
B)will increase its profit if it lowers its price and expands its production level 
C)cannot increase economic profit by changing its price and output since it is already maximizing its profit 
D)will increase its profit if it raises its price and expands its production level 
E)will increase its profit by lowering its price and reducing its production level

-Assume the Firm in Figure 11-2 Is Currently Producing 13