Table 7-A
Revenue and Cost Data for a Perfectly Competitive

Table 7-A
Revenue and Cost Data for a Perfectly Competitive Firm
$$\begin{array} { c c c c c c c } \text { Daily } & \text { Price } & \text { Total } & \text { TFC } & \text { TVC } & \text { TC } & \text { Profit } \\\text { Output } && \text { Revenue } & & & & \\0 & \$ 20 & \$0 & V&\$0& \$ 50 & - \$ 50 \\1 & \$ 20 & \$ 20 & \$ 50 & \$ 12 & \$ W & - \$ 42 \\2 & \mathbf { X } & \$ 40 & \$ 50 & Y & \$ 78 & - \$ 38 \\3 & \$ 20 & \$ 60 & \$ 50 & \$ 45 & \$ 95 & Z\end{array}$$
-Refer to Table 7-A.What is the value of the variable X shown in the table?

A) $0
B) $50
C) $20
D) $40
E) The value of X cannot be determined from the information provided.

Correct Answer:

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