Multiple Choice
Figure 7.5 
Figure 7.5 shows cost and demand curves facing a typical firm in a constant-cost, perfectly competitive industry.
-Refer to Figure 7.5.The firm's manager suggests that the firm's goal should be to maximise average profit.In that case,what is the output level and what is the average profit that will achieve the manager's goal?
A) Q = 1350 units, average profit = $5
B) Q = 1100 units, average profit = $6
C) Q = 1350 units, average profit = $9
D) Q = 1800 units, average profit = $20
Correct Answer:
Verified
Correct Answer:
Verified
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