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Figure 7-3 Shows the Demand, Marginal Cost, and Average Cost

Question 55

Multiple Choice

Figure 7-3 shows the demand, marginal cost, and average cost curves of a perfectly competitive firm. How many units of output per day should the firm produce if it wants to maximize its profits (or minimize its losses) ?Figure 7-3 Figure 7-3 shows the demand, marginal cost, and average cost curves of a perfectly competitive firm. How many units of output per day should the firm produce if it wants to maximize its profits (or minimize its losses) ?Figure 7-3 A) 30 B) 70 C) 100 D) 0 E) 90


A) 30
B) 70
C) 100
D) 0
E) 90

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