Quantity 0 100 200 300 400 500 600 Total Cost (dollars) $1,000 1,360 1,560 1,960 2,760 4,000 5,800 Variable Cost (dollars) $0 360 560 960 1,760 3,000 4,800 Table 12-1 shows the short-run cost data of a perfectly competitive firm that produces plastic camera cases. Assume that output can only be increased in batches of 100 units. 51) Refer to Table 12-1. If the market price of each camera case is $8, what is the firm's total revenue when the profit-maximizing quantity is found at the output where MR = MC? B) $3,200 A) $2,400 C) $4,000 D) $4,800 Page Ref: 401-402 49) 51)

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Table 12-1
Quantity
0
100
200
300
400
500
600
#3
Table 12-1 shows the short-run cost data of a perfectly competitive firm that produces plastic camera cases. Assume that
output can only be increased in batches of 100 units.
Total Cost
(dollars)
$1,000
1,360
1,560
1,960
2,760
E
51) Refer to Table 12-1. If the market price of each camera case is $8, what is the firm's total revenue
when the profit-maximizing quantity is found at the output where MR = MC?
B) $3,200
C) $4,000
D) $4,800
A) $2,400
Page Ref: 401-402
D
ture.com/courses/2244593/files/144593507?module_item_id=37898795
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4,000
5,800
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(dollars)
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1,760
3,000
4,800
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Transcribed Image Text:Bookmarks Profiles Tab Window Help Table 12-1 Quantity 0 100 200 300 400 500 600 #3 Table 12-1 shows the short-run cost data of a perfectly competitive firm that produces plastic camera cases. Assume that output can only be increased in batches of 100 units. Total Cost (dollars) $1,000 1,360 1,560 1,960 2,760 E 51) Refer to Table 12-1. If the market price of each camera case is $8, what is the firm's total revenue when the profit-maximizing quantity is found at the output where MR = MC? B) $3,200 C) $4,000 D) $4,800 A) $2,400 Page Ref: 401-402 D ture.com/courses/2244593/files/144593507?module_item_id=37898795 $ 4 4,000 5,800 R FI Variable Cost (dollars) $0 360 560 960 1,760 3,000 4,800 % 5 T MacBook Pro G ^ 6 Y 87 & H U * 8 J - ( 9 O 49) V 51) ) 0 K L P
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