-At optimal output, the firm described in Table 8-1 sells its output at a price of
A)$5.40.
B)$6.25.
C)$7.
D)$8.

Name: -At optimal output, the firm described in Table 8-1 sells its output at a price of A)$5.40. B)$6.25. C)$7. D)$8.
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Question

​ 
-At optimal output, the firm described in Table 8-1 sells its output at a price of
A)$5.40. 
B)$6.25. 
C)$7. 
D)$8.

Quizplus · Accepted Answer

At optimal output, a firm sets its price equal to marginal cost. The price of $7 is likely the price where marginal cost equals marginal revenue, indicating optimal output.

​ -At Optimal Output, the Firm Described in Table 8-1 Sells

-At Optimal Output, the Firm Described in Table 8-1 Sells