1 What is marginal revenue when output is 100 units? a. $10 b. $20 c. $25 d. $30
ID: 1097110 • Letter: 1
Question
1 What is marginal revenue when output is 100 units?
a. $10
b. $20
c. $25
d. $30
e. $35
2 At what output is marginal revenue $20?
a. 100 units
b. 200 units
c. 300 units
d. 400 units
e. 500 units
3 The profit-maximizing (or loss-minimizing) level of output is
a. 100
b. 200
c. 300
d. 400
e. 450
4 In profit-maximizing (or loss-minimizing) equilibrium, the price-setting firm earns $______ in total revenue, which is ___________ the maximum possible total revenue of $________.
a. $7,500; equal to; $7,500
b. $8,000; more than; $7,500
c. $7,650; less than; $8,000
d. $8,000; equal to; $8,000
e. $7,500; less than; $8,000
5 The maximum profit the firm can earn is $________.
a. -$4,500
b. -$1,500
c. $7,500
d. $7,650
e. $8,000
Explanation / Answer
1.c. $25
2.b. 200 units
3.d. 400
4.b. $8,000; more than; $7,500
5.c. $7,500
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