A profit-maximizing firm in a competitive market is currently producing 200 units of output. It has average revenue of $9
and average total cost of $7. It follows that the firm's
Ola average total cost curve intersects the marginal cost curve at an output level of less than 200 units.
O b. average variable cost curve intersects the marginal cost curve at an output level of less than 200 units.
O c. profit is $400.
Od. All of the above are correct.
