Scenario 14-2 Assume a certain firm is producing Q = 1,000 units of output. At Q = 1,000, the firms marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit. Refer to Scenario 14-2. At Q = 1,000, the firms profit amounts to Select one: a. O b. O c. O d. $1,000. $-200. $4,000. $3,000.

Scenario 14-2 Assume a certain firm is producing Q = 1,000 units of output. At Q = 1,000, the firms marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit. Refer to Scenario 14-2. At Q = 1,000, the firms profit amounts to Select one: a. O b. O c. O d. $1,000. $-200. $4,000. $3,000.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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