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If the market price is $17/unit and the firm produces 4 units of output. If the total cost of producing four units is $112 then its profit would be а. -44 b.18 с.-50 d.0

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter5: Investment Decisions: Look Ahead And Reason Back

Section: Chapter Questions

Problem 4MC

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Question

If the market price is $17/unit and the firm produces 4 units of output. If the
total cost of producing four units is $112 then its profit would be
a. -44
b.18
c.-50
d.0

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