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Intermediate Quiz
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1
Refer to the table above when answering this question. If the market price is $80, what is the profit-maximizing output, and what will be the firm’s profit or loss?
A)4 units and a loss of $80
B)5 units and a loss of $40
C)6 units and a loss of $36
D)6 units and zero profit

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2
Refer to the table above when answering this question. What is the break-even price?
A)$3.25
B)$5
C)$5.60
D)$18
E)$28
3
Refer to the table above when answering this question. What is the shutdown price?
A)$3.25
B)$4
C)$5.60
D)$13
E)$23
4
Refer to the table above when answering this question. What is the profit-maximizing output if the price is $3?
A)0
B)3
C)4
D)5
E)6
5
Refer to the table above when answering this question. What is the profit-maximizing output if the price is $10?
A)0
B)3
C)4
D)5
E)6
6
Refer to the table above when answering this question. If the price is $10, what profit or loss will this producer earn?
A)0
B)-$4.40
C)+$4.40
D)+$22
E)+$32







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