Question: Use the following table to answer the next question Quantity of output 0 10 20 Total cost $ 50 85 150 30 40 50

Use the following table to answer the next question Quantity of output 0 10 20 Total cost $ 50 85 150 30 40 50 220 305 455 If the market price is $8.50, what are the profit-maximizing output and profit? a) output=40; profit = $35 b) output=40; profit = $0 c) output = 0; profit = -$50 d) output and profit cannot be determined because marginal revenue cannot be calculated

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