MC ATC 10 20 90 40 50 60 70 80 Refer to the following Exhibit: Quantity If this firm is perfectly competitive, at the profit-maximizing output level, the firm's total cost (=TC) is a) $60.00 O b) $225.00 O c) $300.00 d) $360.00 $420.00 Price and Cost (dollars)

MC ATC 10 20 90 40 50 60 70 80 Refer to the following Exhibit: Quantity If this firm is perfectly competitive, at the profit-maximizing output level, the firm's total cost (=TC) is a) $60.00 O b) $225.00 O c) $300.00 d) $360.00 $420.00 Price and Cost (dollars)

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 7SCQ: If new technology in a perfectly competitive market brings about a substantial reduction in costs of...

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MC
ATC
10
20
30
40
50
60
70
80
Refer to the following Exhibit:
Quantity
If this firm is perfectly competitive, at the profit-maximizing output level, the firm's
total cost (=TC) is
a) $60.00
O b) $225.00
O c) $300.00
d) $360.00
$420.00
Price and Cost (dollers)

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