If the market price in Figure 9-6 increases to $20, what should the firm do?

A) produce an output of 15
B) expand output to 20
C) expand output to 25
D) increase its price to $25

Market Price

The current price at which an asset or service can be bought or sold in the marketplace.

Output

Refers to the total quantity of goods or services produced by an individual, company, or economy.

Expand

The process of increasing the scale, scope, or reach of an operation, business, or system, often aiming for growth or diversification.