A firm in perfectly competitive industry is producing 50 units, its p – McqOptions

MCQOPTIONS

1.	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» B. £15

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