To maximize profits, a firm would produce quantity represented by which letter and charge price represented by which letter?

In a typical scenario of profit maximization for a firm, the quantity produced is determined at the point where marginal cost equals marginal revenue (MC = MR). This condition indicates that the firm is maximizing its profit because producing beyond this point would lead to higher costs than revenue, while producing below would mean the firm isn't taking full advantage of potential profits.

The price charged is then identified from the demand curve at the quantity level that corresponds to the maximized output. This is often characterized by the highest price that consumers are willing to pay for the quantity produced.

Option B suggests that quantity A corresponds with price J. This indicates that the quantity is chosen correctly based on the profit-maximizing condition (MC = MR), while price J represents what consumers are willing to pay for that chosen quantity. Therefore, when the firm produces at this quantity and charges this price, it operates effectively within the realm of maximizing profits.

The other options likely indicate combinations where either the quantity does not meet the MC = MR criterion, or the selected price doesn't reflect the demand at that optimal output level. In profit maximization, both the quantity and price need to accurately align with the firm's market position, which is successfully illustrated in option B.