This Question: 1 pt 434 of 45 (20 complete) This Test: 45 pts possible Marginal

Question

This Question: 1 pt 434 of 45 (20 complete) This Test: 45 pts possible Marginal Total Marginal Quantity Sold Price Total Revenue RevensCost Profit $10 52 $2 16 21 24 25 20 26 The table lists estimated revenues and costs (per week) for plastic vals (100 vials per box) for the Victona Biological Supplies Company Victoria sells plastic vials to universities and private research laboratories At Victoria's proft-maximizing output, 0 A, total revenue equals $25 and total cost equa s s22 O B. total revenue equals $24 and total cost equais $20 ° C. total revenue equals $21 and total cost equals S 17. D. profit equals $2 Click to select your answer

Explanation / Answer

The correct choice is B

Quantity sold Price Total revenue Marginal revenue Total cost Marginal cost Profit 0 $10 $0 _ $2 _ ($2) 1 $9 $9 $9 $8 $6 $1 2 $8 $16 $7 $13 $5 $3 3 $7 $21 $5 $17 $4 $4 4 $6 $24 $3 $20 $3 $4 5 $5 $25 $1 $22 $2 $3 6 $4 $24 ($1) $26 $4 ($2)

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