Question: QUESTION 8 2 points Save Answer The following cost data is for a firm in a perfectly competitive market: Quantity of Output Total Cost 0

QUESTION 8 2 points Save Answer The following cost data is

QUESTION 8 2 points Save Answer The following cost data is for a firm in a perfectly competitive market: Quantity of Output Total Cost 0 40 P 50 2 70 3 100 4 140 If the price of output is $15, what is the level of output that will maximize the firm's profit in the short-run? O 1 O 2

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