Profit Maximizing Under Perfect Competition & Monopoly Mcqs

Q.  A firm in perfectly competitive industry is producing 50 units, its profit-maximising quantity. Industry price is £2 and total fixed costs and total variable cost are £25 and £40 respectively. The firm’s economic profit is ?

a. £35
b. £15
c. £30
d. £60


ANSWER: See Answer
 
No explanation is available for this question!
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