The following graph represents the weekly costs of production for a small firm making office chairs. If the short-run market price for an office chair is $80 per chair, (roughly) how many chairs should the firm make to either maximize profits or minimize losses? Weekly Costs 200.00 180.00 160.00 140.00 120.00 Marginal Cost 100.00 80.00 60.00 40.00 20.00 Average Variable Cost 0.00 0 20 80 100 40 60 Quantity per Week Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a About 70 chairs per week in the long run and the firm is making a zero economic profit. Price per Unit Average Total Cost a About 70 chairs per week in the long run and the firm is making a zero economic profit. b About 30 chairs per week in the short run and the firm is making a negative economic profit. C About 30 chairs per week in the short run and the firm is making a zero economic profit. d About 70 chairs per week in the short run and the firm is making a positive economic profit.
