Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Revenue and
Costs (dollars) 160
892888 98
140
120
100
80
60
40
20
0
2
In the above figure, at the profit-maximizing rate of production for the perfectly competitive firm, profit is
A. $30
OB. $130
OC. $100
00 $70
TC TR
6 8 10 12 14 16 18 20
Quantity
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