-At the profit-maximizing,or loss-minimizing,level of output in Figure 11-3,the firm's total cost is approximately
A)$14,000
B)$12,750
C)$9,100
D)$16,185
E)$8,400

Question

-At the profit-maximizing,or loss-minimizing,level of output in Figure 11-3,the firm's total cost is approximately
A)$14,000 
B)$12,750 
C)$9,100 
D)$16,185 
E)$8,400

Quizplus · Accepted Answer

The profit-maximizing or loss-minimizing level of output occurs where marginal cost equals marginal revenue. At this point, the firm's total cost is approximately $14,000.

-At the Profit-Maximizing,or Loss-Minimizing,level of Output in Figure 11-3,the Firm's