The following table shows a profit-maximizing producer's marginal costs.The firm is operating in a perfectly competitive market and has fixed costs of $500.

-Refer to the above information to answer this question.If the price is $500,what is the optimal output and what is the profit or loss?
A) 5 and a profit of $1,150.
B) 6 and a profit of $1,200.
C) 7 and a profit of $560.
D) 7 and a profit of $1,430.
E) 8 and a profit of $1,330.
Correct Answer:
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