Table 12-1 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. 50) Refer to Table 12-1. If the market price of each camera case is $8, what is the profit-maximizing quantity according to the MR = MC rule? A) 300 units B) 400 units C) 500 units D) 600 units 50) ―

Table 12-1 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. 50) Refer to Table 12-1. If the market price of each camera case is $8, what is the profit-maximizing quantity according to the MR = MC rule? A) 300 units B) 400 units C) 500 units D) 600 units 50) ―

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Table Cost.EX2: Costs and Outputs for a Competitive Firm Total Total Output Fixed Variable (Q) Costs Costs $30.00 $0.00 1. $30.00 $70.00 $30.00 $120.00 3 $30.00 $150.00 4. $30.00 $220.00 $30.00 $300.00 Refer to Table Cost.EX2. When production is 3 units, the firm's average total cost is about O No answer text provided. O No answer text provided. S62.50 S60.00
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Complete the following table of short-run fixed costs. (Enter your responses rounded to two decimal places.) Total Fixed Cost (TFC) $1,500 Output (9) 1 2 3 4 5 1,500 1,500 1,500 1,500 Average Fixed Costs (AFC) $
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Total fixed cost for this firm:
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