The table given below reports the marginal revenue and marginal cost of Holmes Detective Agency for each client.Table 9.2

-Assume that a firm's marginal revenue curve intersects the rising portion of the marginal cost curve at 100 units of output. At this output level, a profit-maximizing firm's total cost is $1,000. If the price of the product is $10 per unit, the firm will earn an economic profit of:
A)zero.
B)$400.
C)more than zero but less than $100.
D)$100.
E)more than $100.

Question

The table given below reports the marginal revenue and marginal cost of Holmes Detective Agency for each client.Table 9.2
 
-Assume that a firm's marginal revenue curve intersects the rising portion of the marginal cost curve at 100 units of output. At this output level, a profit-maximizing firm's total cost is $1,000. If the price of the product is $10 per unit, the firm will earn an economic profit of:
A)zero. 
B)$400. 
C)more than zero but less than $100. 
D)$100. 
E)more than $100.

Quizplus · Accepted Answer

The Answer of The table given below reports the marginal revenue and marginal cost of Holmes Detective Agency for each client.Table 9.2
 
-Assume that a firm's marginal revenue curve intersects the rising portion of the marginal cost curve at 100 units of output. At this output level, a profit-maximizing firm's total cost is $1,000. If the price of the product is $10 per unit, the firm will earn an economic profit of:
A)zero. 
B)$400. 
C)more than zero but less than $100. 
D)$100. 
E)more than $100.

The Table Given Below Reports the Marginal Revenue and Marginal