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Refer to the Graph Shown

Question 57

Multiple Choice

Refer to the graph shown. Currently, if this perfectly competitive firm is maximizing profit, the market price is: Refer to the graph shown. Currently, if this perfectly competitive firm is maximizing profit, the market price is: A) $6.50 and marginal revenue for the firm is $5.00 B) $5.00 and marginal revenue for the firm is $3.00 C) $5.00 and marginal revenue for the firm is $5.00 D) $6.50 and marginal revenue for the firm is $6.50


A) $6.50 and marginal revenue for the firm is $5.00
B) $5.00 and marginal revenue for the firm is $3.00
C) $5.00 and marginal revenue for the firm is $5.00
D) $6.50 and marginal revenue for the firm is $6.50

Correct Answer:

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