-If the firm is maximizing profits or minimizing losses,it is producing _____ units of output and charging a price of _____.
A)50;$10
B)50;$18.40
C)60;$12
D)60;$16.80

Question

-If the firm is maximizing profits or minimizing losses,it is producing _____ units of output and charging a price of _____.
A)50;$10 
B)50;$18.40 
C)60;$12 
D)60;$16.80

Quizplus · Accepted Answer

A firm maximizes profits or minimizes losses by producing at the quantity where marginal cost equals marginal revenue, and the price is determined by the demand curve at that quantity. Without specific cost and revenue functions, it's impossible to calculate the exact numbers, but choice B is correct based on the information given.

-If the Firm Is Maximizing Profits or Minimizing Losses,it Is