-At the profit-maximizing,or loss-minimizing,level of output for the firm in Figure 11-3,total revenue is approximately
A)$10,500
B)$11,000
C)$5,600
D)$8,250
E)zero because the firm should shut down immediately

Question

-At the profit-maximizing,or loss-minimizing,level of output for the firm in Figure 11-3,total revenue is approximately
A)$10,500 
B)$11,000 
C)$5,600 
D)$8,250 
E)zero because the firm should shut down immediately

Quizplus · Accepted Answer

At the profit-maximizing level of output, total revenue is equal to total cost. In Figure 11-3, total cost is approximately $10,500 at the profit-maximizing level of output.

-At the Profit-Maximizing,or Loss-Minimizing,level of Output for the Firm in Figure