A firm faces the demand for its product (P = 100 - 0.5Q) as shown in the figure below. It produces under conditions of constant costs in the long run, and LMC = LAC = $12 per unit. Price and cost ($ per unit) 100 112 12 0 P 100 0.5Q Quantity LMC = LAC 200 If the firm can practice first-degree price discrimination, it can make a maximum profit of .............. a) $1,872 b) $1,936 c) $7,744 d) $9,856 e) None of the above.

A firm faces the demand for its product (P = 100 - 0.5Q) as shown in the figure below. It produces under conditions of constant costs in the long run, and LMC = LAC = $12 per unit. Price and cost ($ per unit) 100 112 12 0 P 100 0.5Q Quantity LMC = LAC 200 If the firm can practice first-degree price discrimination, it can make a maximum profit of .............. a) $1,872 b) $1,936 c) $7,744 d) $9,856 e) None of the above.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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