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NeX [460]
3 years ago
9

Suppose a perfectly competitive firm produces 40 units of output per-period (e.g., daily) and sells all units for the market pri

ce of $6. If average fixed cost is $2, average variable cost is $1, and marginal cost is $6, then the firm:
i. is maximizing total profit by producing and selling 40 units of output
ii. earns a per-period total profit of $120
iii. earns a per-period total profit of $240
iv. should close down in the short run and suffer a loss equal to $80
Business
1 answer:
Komok [63]3 years ago
5 0
The correct answer for the question that is being presented above is this one: "F. i and iii" Then the firm is maximizing total profit by producing and selling 40 units of output and <span>earns a per-period total profit of $240 </span>

Here are the choices:
A. i
B. ii
C. iii
D. iv
E. i and ii
F. i and iii
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