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... 50 MC ATC 40 MR 30 20 10 10 20 30 40 Quantity (per day) The figure above shows a perfectly competitive firm. When the firm maximizes its profit, its total revenue is Price and costs (dollars)

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 7SQ

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Question

Economics
50
MC
ATC
40
MR
30
20
10
10
20
30
40
Quantity (per day)
The figure above shows a perfectly competitive firm. When the firm maximizes its profit, its total revenue is
A) $1,200.
unable to be determined without more information.
$900.
$600.
Price and costs (dollars)

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