The following table illustrates alternative production techniques for producing 18 widgets that can be sold for $1 each for a total revenue of $18. Refer to the above table. Using the technique cited in the previous question will result in an:
A) Economic loss of $2
B) Economic profit of $1
C) Economic profit of $2
D) Economic profit of $3

Question

The following table illustrates alternative production techniques for producing 18 widgets that can be sold for $1 each for a total revenue of $18.  Refer to the above table. Using the technique cited in the previous question will result in an:
A) Economic loss of $2 
B) Economic profit of $1 
C) Economic profit of $2 
D) Economic profit of $3

Quizplus · Accepted Answer

Using technique D will result in an economic profit of $3 ($18 total revenue - $15 total cost), which is the highest profit among all available options.

The Following Table Illustrates Alternative Production Techniques for Producing 18