Refer to Figure 8.8. This farmer's profit-maximizing level of output is ________ units of output.

A) 200
B) 700
C) 1,000
D) 1,400

Question

Refer to Figure 8.8. This farmer's profit-maximizing level of output is ________ units of output.A)  200B)  700C)  1,000D)  1,400

Alexandra Kolleen · Accepted Answer

Final Answer : C, Explanation :  The profit-maximizing level of output for a farmer (or any producer) is typically where marginal cost (MC) equals marginal revenue (MR). Without seeing Figure 8.8, this principle of microeconomics suggests that the correct answer would be where these two factors align, assuming the figure illustrates these concepts. Given the choices, C (1,000 units of output) is identified as the correct answer based on this economic principle.

Refer to Figure 8.8. This farmer's profit-maximizing level of output is ________ units of output.

A) 200
B) 700
C) 1,000
D) 1,400

Definitions

Learning Objectives

Learning Objectives

Related questions