The Figure Given Below Shows the Revenue and Cost Curves

The figure given below shows the revenue and cost curves of a perfectly competitive firm.Figure 10.2
MC: Marginal cost curve
MR: Marginal revenue curve
ATC: Average-total-cost curve
AVC: Average-variable-cost curve
-Refer to Figure 10.2. What is the profit-maximizing price and output level?

A) $35 and 10 units
B) $50 and 15 units
C) $50 and 20 units
D) $20 and 20 units
E) $35 and 20 units

Correct Answer:

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