Figure 14-1

-Refer to Figure 14-1.When market price is at P4,what level of output will a profit-maximizing firm produce

Name: Figure 14-1 -Refer to Figure 14-1.When market price is at P4,what level of output will a profit-maximizing firm produce
Brand: Quizplus
Rating: 4.8 (58 reviews)

Question

Figure 14-1
 
-Refer to Figure 14-1.When market price is at P4,what level of output will a profit-maximizing firm produce

Quizplus · Accepted Answer

At P4, the marginal cost of production intersects the marginal revenue curve at Q4. Therefore, a profit-maximizing firm will produce Q4 level of output.

Figure 14-1 -Refer to Figure 14-1.When Market Price Is at P4,what Level