Answer Happy

Question 21 The perfectly competitive firm represented in Table 1.3 will produce a profit maximising quantity of... a. 1 b. 3 c. 4 d. 5 Quantity 1 2 3 4 5 Table 1.3 Price $500 $450 $400 $350 $300 Total Cost $400 $650 $950 $1,300 $1,700 marks)