The table describes Sergei's costs for his perfectly competitive all-natural ice cream firm.
Output Total Cost ($)
0 10
1 60
2 80
3 110
4 170
5 245
1. If the market price of a tub of ice cream is $67.50, how many tubs of ice cream will Sergei's firm produce?
A) 1 B) 2 C) 3
2. If the market price of a tub of ice cream is $67,50, how much is Sergei's total revenue at the profit-maximizing output?
A) S270 B) $170 C) $135 D) $67.50
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