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?
3 generalizations.
4 generalizations.
5 generalizations.
6 generalizations.
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
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