Tackle the Test: Multiple-Choice Questions

Use the data in the table provided to answer Questions 1–3.

Quantity Total revenue Total cost
0 $0 $14
1 18 30
2 36 36
3 54 44
4 72 56
5 90 72
6 108 92
7 126 116
  1. Question

    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
    What is the marginal revenue of the third unit of output?
  2. Question

    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
    What is the marginal cost of the first unit of output?
  3. Question

    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
    At what level of output is profit maximized?
  4. Question

    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
    A firm should continue to produce in the long run if its
  5. Question

    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
    A firm earns a normal profit when its