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Table 94 Table 94 Lists Estimated Revenues and Costs (Per Week) for Plastic

Question 84

Multiple Choice

Table 9.4
 Quantity  Sold  Price  (dollars )  Total  Revenue  (dollars)   Marginal  Revenue Total Cost  (dollars)   Marginal  Cost  Profit  (dollars)  0100221998281613372117462420552522642426\begin{array}{|c|c|c|c|c|c|c|}\hline \begin{array}{c}\text { Quantity } \\\text { Sold }\end{array} & \begin{array}{c}\text { Price } \\\text { (dollars ) }\end{array} & \begin{array}{c}\text { Total } \\\text { Revenue } \\\text { (dollars) }\end{array} & \begin{array}{c}\text { Marginal } \\\text { Revenue }\end{array} & \begin{array}{c}\text {Total}\\\text { Cost } \\\text { (dollars) }\end{array} & \begin{array}{c}\text { Marginal } \\\text { Cost }\end{array} & \begin{array}{c}\text { Profit } \\\text { (dollars) }\end{array} \\\hline 0 & 10 & 0 & \cdots & 2 & \cdots & -2 \\\hline 1 & 9 & 9 & & 8 & & \\\hline 2 & 8 & 16 & & 13 & & \\\hline 3 & 7 & 21 & & 17 & & \\\hline 4 & 6 & 24 & & 20 & & \\\hline 5 & 5 & 25 & & 22 & & \\\hline 6 & 4 & 24 & & 26 & & \\\hline\end{array}
Table 9.4 lists estimated revenues and costs (per week) for plastic vials (100 vials per box) for the Victoria Biological Supplies Company. Victoria sells plastic vials to university and private research laboratories.
-Refer to Table 9.4.Based on the data in the table,which of the following statements is true?


A) The table summarises Victoria's short-run, rather than long-run, market for plastic vials.
B) Victoria could be either a monopolistically competitive or a perfectly competitive firm.
C) Victoria should shut down temporarily.
D) Victoria should advertise more in order to increase the demand for plastic vials.

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