Figure 7.3:
-In Figure 7.3,if this industry is competitive,the profit-maximizing price is:
A) $6.
B) $7.
C) $8.
D) $9.

Name: Figure 7.3: -In Figure 7.3,if this industry is competitive,the profit-maximizing price is: A) $6. B) $7. C) $8. D) $9.
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Question

Figure 7.3: 
-In Figure 7.3,if this industry is competitive,the profit-maximizing price is:
A) $6. 
B) $7. 
C) $8. 
D) $9.

Quizplus · Accepted Answer

In a competitive industry, the profit-maximizing price is where marginal cost (MC) equals marginal revenue (MR). Looking at the graph, we can see that the MC curve intersects the MR curve at a price of $8. Thus, the profit-maximizing price would be $8.

Figure 7.3: -In Figure 7.3,if This Industry Is Competitive,the Profit-Maximizing Price Is