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) ―

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 9SQP

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Could you show the profit and loss on the graph. Furthermore, the figures for cost you posted were incorrect as they are not dropdown options.
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ntQu102spring22 (1) - Protected View • Saved to this PC - O Search (Alt+Q) Faridatu Pafadnam References Mailings Review View Help t Defender Advanced Threat Protection and it hasn't detected any threats. If you need to edit this file, click enable editing, Enable Editing 3) Consider the following short-run cost curves for a profit-maximizing firm in a perfectly competitive industry. MC SRATC 4 SRAVC 1.5 1 100 200 300 400 Quantity FIGURE 1 a) Refer to Figure 1. If the current market price is $6, what is the profit-maximizing output for this firm? b) Refer to Figure 1. If the price is $6 and the firm is producing at its profit-maximizing output, then what are total costs for the firm? c) Refer to Figure 1. If the market price is $1, the firm will produce short run. units of output in the d) Refer to Figure 1. If the market price is $2, what the firm will do? Price $