Suppose the firm's total revenue is $4,000 and its total cost is $1,200. We know, then ,that the firm
A) should produce more to maximize profit
B) should lower its price to maximize profit
C) should lower average total cost to maximize profit
D) should stay where it is because it's maximizing profit
E) can't determine what it should do with that incomplete information

Question

Quizplus · Accepted Answer

The information provided only includes total revenue and total cost, which indicates a profit of $2,800. However, without additional information about market conditions, demand, and cost structures, it is not possible to determine the optimal strategy for maximizing profit.

Suppose the Firm's Total Revenue Is $4,000 and Its Total