The total cost schedule for a competitive firm is given by: OutputTotal Cost 0$10 160 280 3110 4165 5245 If market price is $60, how many units of output will the firm produce

4 units.

Explanation:

A firm should produce at the rate where Marginal Cost is equal to Marginal Revenue or at a point where they are at their closest.

From the above question, the Marginal Revenue is the Market Price of $60 because that is the extra amount made per sale.

The closest Marginal Cost to $60 is at 4 units. Here the cost of producing is $165 and the cost of producing 3 units is $110. The cost of producing the 4th unit,

= 165 - 110

= $55

The marginal cost of the 5th unit is $80 so it cannot be here.

At the 4th unit the profit made is,

= (Selling price * units) - cost

= (60 * 4) - 165

= $75

This will be the highest profit the company can make.

answer; /// i believe that the correct answer is (b) money set aside for emergency repairs;

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.