-In the figure above,what is the maximum profit and the profit-maximizing level of output of the firm when the market price is $8.50?

Name: -In the figure above,what is the maximum profit and the profit-maximizing level of output of the firm when the market price is $8.50?
Brand: Quizplus
Rating: 4.8 (53 reviews)

Question

Quizplus · Accepted Answer

The profit-maximizing level of output is where marginal cost equals marginal revenue (price), which is $8.50. At Q = 55, the profit is $0, indicating that total revenue equals total cost.

-In the Figure Above,what Is the Maximum Profit and the Profit-Maximizing