If the market price in Figure 9-8 increases to $4, indicate the firm's profit-maximizing output and total revenue.

A) output, 15; total revenue, $45
B) output, 15; total revenue, $60
C) output, 17; total revenue, $68 (approx.)
D) output, 20; total revenue, $80

Profit-Maximizing Output

The level of production at which a firm achieves the maximum possible profits, considering its costs of production and the market price of its goods or services.

Total Revenue

The total income generated from selling goods or services before any expenses are deducted.

Market Price

The current price at which a good or service can be bought or sold in a particular market.