The figure given below shows the revenue and cost curves of a perfectly competitive firm. Figure 23.2
MC: Marginal cost curve
MR: Marginal revenue curve
ATC: Average-total-cost curve
AVC: Average-variable-cost curve
Refer to Figure 23.2.What is the profit-maximizing price and output level?
A) $35 and 10 units
B) $50 and 15 units
C) $50 and 20 units
D) $20 and 20 units
E) $35 and 20 units
Correct Answer:
Verified
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