Suppose a competitive firm has cost, C = (0.002q3 ) + (22q) + 750, marginal cost, MC = 0.006q2 + 22, and revenue, R = 80q. If the firm produces 150 units of output, A. R MC. At this output level (150 units),
A. profit is negative.
B. marginal profit is negative.
C. profit is positive.
D. None of the above.
A. profit is negative.
B. marginal profit is negative.
C. profit is positive.
D. None of the above.
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