Table 9-2 Table 9-2 Lists the Various Pounds (Lbs

Table 9-2
$\begin{array}{|c|c|c|c|c|}\hline\begin{array}{c}\text { Apples } \\\text { (pounds) }\end{array} & \begin{array}{c}\text { MarketPrice } \\\text { per Pound }\end{array} & \begin{array}{c}\text { Total } \\\text { Revenue } \\(\text { TR) }\end{array} & \begin{array}{c}\text { Average } \\\text { Revenue } \\\text { (AR) }\end{array} & \begin{array}{c}\text { Marginal } \\\text { Revenue } \\\text { (MIR) }\end{array} \\\hline 0 & \$ 3 & \$ 0 & \cdots& \cdots \\\hline 100 & & & & \\\hline 150 & & & & \\\hline 200 & & & & \\\hline 250 & & & & \\\hline 300 & & & & \\\hline 350 & & & & \\\hline 400 & & & & \\\hline\end{array}$ Table 9-2 lists the various pounds (lbs.) of apples that Margie Stattler can sell. Assume that Margie operates in a perfectly competitive market.
-Refer to Table 9-2.How many pounds of apples should Margie sell to maximize her profit?

A) 300 pounds
B) 400 pounds
C) This cannot be determined without knowing Margie's total or marginal production costs.
D) This can be determined only when all of the values for market price, total revenue, average revenue and marginal revenue are given.

Correct Answer:

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