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. Page Ref: 401-402 52) Refer to Table 12-1. If the market price of each camera case is $8 and the firm maximizes profit, 52) what is the amount of the firm's profit or loss? A) SO (it breaks even) C) profit of $440 401 400 B) loss of $1,000 D) loss of $440 —

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. Page Ref: 401-402 52) Refer to Table 12-1. If the market price of each camera case is $8 and the firm maximizes profit, 52) what is the amount of the firm's profit or loss? A) SO (it breaks even) C) profit of $440 401 400 B) loss of $1,000 D) loss of $440 —

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Total fixed cost for this firm:
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Table 12-1 Variable Cost (dollars) $0 Total Cost Quantity (dollars) $1,000 1,360 1,560 1,960 2,760 4,000 5,800 100 360 200 560 300 960 400 1,760 3,000 4,800 500 600 Table 12-1 shows the short-tun cost data of a perfectly competitive firm that produces plastic camera cases. Assume that output can only be increased in batches of 100 units. Refer to Table 12-1. If the market price of each camera case is $8 and the firm maximizes profit, what is the amount of the firm's profit or loss? A) $0 (it breaks even) tv P D00 D00 A F2 F3 F5 F7 FB F10 3 5 8. E R U <6
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