$$\begin{array} { c r }
\text { Output } & \text { Price } \
1 & \$ 30 \
2 & 28 \
3 & 26 \
4 & 24 \
5 & 22
\end{array}$$
-If marginal cost were $22,how many units of output would this firm produce?
A)1
B)2
C)3
D)4
E)5

Question

$$\begin{array} { c r } 
\text { Output } & \text { Price } \
1 & \$ 30 \
2 & 28 \
3 & 26 \
4 & 24 \
5 & 22
\end{array}$$
-If marginal cost were $22,how many units of output would this firm produce?
A)1
B)2
C)3
D)4
E)5

Quizplus · Accepted Answer

Marginal cost is equal to price at the profit-maximizing output level.

Output Price 1$30228326424522\begin{array} { c r } \text { Output } & \text { Price } \\1 & \$ 30 \\2 & 28 \\3 & 26 \\4 & 24 \\5 & 22\end{array} Output 12345​ Price $3028262422​

$\begin{array} { c r } \text { Output } & \text { Price } \\1 & \$ 30 \\2 & 28 \\3 & 26 \\4 & 24 \\5 & 22\end{array}$