20. Gross Generalizations is a profit maximizing perfectly competitive firm whose output and cost data are given in the table to the right. If the market price of generalizations is $32, how many will Gross produce?
  1. 3 generalizations.
  2. 4 generalizations.
  3. 5 generalizations.
  4. 6 generalizations.
  5. 7 generalizations.
Gross Generalizations
Output Total Cost
0 25.00
1 35.00
2 50.00
3 70.00
4 95.00
5 125.00
6 160.00
7 200.00

Copyright © 1995-2004 OnLineTexts.com, Inc. - All Rights Reserved