Calico Joe Fabrics Sells a Single Product What Price Should Calico Joe Fabrics Charge to Maximize Profits

question 10

Multiple Choice

Calico Joe Fabrics sells a single product.The company estimates total fixed costs at $360,000 with demand, price, and total variable costs as follows: $$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Units } \\\text { Demanded }\end{array} & \begin{array} { c } \text { Unit } \\\text { Price }\end{array} & \begin{array} { c } \text { Total Variable } \\\text { Costs }\end{array} \\\hline 73,000 & \$ 31 & \$ 1,606,000 \\83,000 & 30 & 1,826,000 \\93,000 & 29 & 2,046,000 \\103,000 & 28 & 2,266,000 \\113,000 & 27 & 2,486,000\\\hline\end{array}$$ What price should Calico Joe Fabrics charge to maximize profits?

• A)$31
• B)$30
• C)$29
• D)$28
• E)$27

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Definitions:

Domains

In the context of biology, large, broadly defined areas of life classification above the kingdom level, or regions of a protein with specific structural or functional properties in molecular biology.

Tree of Life

The Tree of Life is a metaphorical and scientific concept describing the evolutionary relationships among various species on Earth across time, often depicted as a branching diagram.

Monophyletic Group

A group of organisms that includes an ancestral species and all of its descendants, representing a single branch on the tree of life.

Clades

Groups of organisms that consist of a single common ancestor and all its descendant species, representing a branch on the tree of life.