Shakti Inc. has been granted a patent for its arnica toothache balm. The table to the right shows the demand and the total cost schedule for the firm.   What is​ Shakti's profit minus maximizing​output?   A. 4 units   B. 6 units   C. 7 units   D. 5 units   Price per dose​ (Dollars) Quantity Demanded ​(Dose) Total Cost of Production ​(Dollars) ​$80 0 ​$80 72 1 82 64 2 88 56 3 100 48 4 124 40 5 164 32 6 208 24 7 268 16 8 340

Microeconomics: Private and Public Choice (MindTap Course List)
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ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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Chapter11: Price-searcher Markets With High Entry Barriers
Section: Chapter Questions
Problem 14CQ
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Shakti Inc. has been granted a patent for its arnica toothache balm. The table to the right shows the demand and the total cost schedule for the firm.  
What is​ Shakti's profit minus maximizing​output?
 
A.
4 units
 
B.
6 units
 
C.
7 units
 
D.
5 units
 
Price per dose​ (Dollars)
Quantity Demanded
​(Dose)
Total Cost of Production
​(Dollars)
​$80
0
​$80
72
1
82
64
2
88
56
3
100
48
4
124
40
5
164
32
6
208
24
7
268
16
8
340
 
 

 

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