If the market price of each camera case is $8 what is the profit-maximizing quantity? 300 units 400 units 500 units 600 units

Answers

Answer 1

Profit will be maximum for the firm where marginal revenue = marginal cost.

Since, the market price is fixed at $8 and therefore each additional unit of camera will be sold at $8.
Hence, marginal revenue = $8.

From the table, it is clear that cameras are manufactured in batches of 100.

Marginal cost is the cost incurred to produce one additional unit of camera. It will be calculated by taking the difference of successive variable costs (or total costs) divided by 100.

To produce 400th unit, marginal cost = (2760 - 1960)/100 = $8

Hence, profit maximising quantity isB. 400 (MR = MC)

Answer 2

Final answer:

The profit-maximizing quantity cannot be determined from the given information.

Explanation:

The profit-maximizing quantity is determined by finding the quantity where marginal revenue (MR) equals marginal cost (MC).

In the given information, there is no specific mention of marginal revenue or marginal cost. Without this information, it is not possible to accurately calculate the profit-maximizing quantity.

Therefore, it is not possible to determine the profit-maximizing quantity from the given information.

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