The perfectly competitive firewood market is composed of 1,000 identical consumers and 1,000 identical firms. The table given below shows cost for one representative firm and the demand schedule for one representative consumer. The profit-maximizing quantity for each firm in this market is _____.
Table 8.1
A) zero cords of wood
B) one cord of wood
C) two cords of wood
D) three cords of wood
E) four cords of woods
Correct Answer:
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