Price MC ATC 100 90 80 70 60 50 D 40 30 20 10 MR 3 9 10 Quantity (in 000s) Answer the parts and reference the above diagram. 1. Refer to the above diagram. The profit- maximizing quantity is: Group of answer choices А. 4 В. 5 С. 6 D.Can not be determined 2. Refer to the above diagram. The profit- maximizing price: Group of answer choices А. 60 В. 70 С. 80 D. 90 3. Refer to the above diagram. At the profit- maximizing output and price, what would be the total profit? Group of answer choices A. loss of 40 B. loss of 30 C. loss of 10 D. profit of 30

Price MC ATC 100 90 80 70 60 50 D 40 30 20 10 MR 3 9 10 Quantity (in 000s) Answer the parts and reference the above diagram. 1. Refer to the above diagram. The profit- maximizing quantity is: Group of answer choices А. 4 В. 5 С. 6 D.Can not be determined 2. Refer to the above diagram. The profit- maximizing price: Group of answer choices А. 60 В. 70 С. 80 D. 90 3. Refer to the above diagram. At the profit- maximizing output and price, what would be the total profit? Group of answer choices A. loss of 40 B. loss of 30 C. loss of 10 D. profit of 30

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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