Table: Spring Water.The table shows the demand and cost data for a firm in a monopolistically competitive industry producing drinking water from underground springs.If the industry were in perfect competition,the profit-maximizing output would be _____ cases.

A) 6
B) 5
C) 7
D) 8

Perfect Competition

A theoretical market structure characterized by a large number of buyers and sellers, homogeneous products, and no barriers to entry or exit, leading to firms being price takers.

Profit-maximizing Output

The level of production at which a company can achieve the highest possible profit, determined by the intersection of marginal cost and marginal revenue.

Demand

The quantity of a good or service that consumers are willing and able to purchase at each possible price level.