Question: QUESTION 20 (4 Marks) Table 20.1 shows the total cost of producing a product in a perfectly competitive market. If the market price of the

QUESTION 20 (4 Marks) Table 20.1 shows the total cost of

QUESTION 20 (4 Marks) Table 20.1 shows the total cost of producing a product in a perfectly competitive market. If the market price of the goods is R200, how many units should the firm produce in order to maximise profits? Units produced Total cost 100 R10 000 101 R10 200 102 R10 320 103 R10 400 A. 103 units B. 100units C. 101 units D. 102 units

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