Table 101 Table 101 Shows the Short-Run Cost Data of a Perfectly Competitive

question 20

Multiple Choice

Table 10.1
$\begin{array}{|c|c|c|}\hline \text { Quantity } & \begin{array}{c}\text { Total Cost } \\\text { (dollars) }\end{array} & \begin{array}{c}\text { Variable Cost } \\\text { (dollars) }\end{array} \\\hline 0 & \$ 1,000 & \$ 0 \\\hline 100 & 1,360 & 360 \\\hline 200 & 1,560 & 560 \\\hline 300 & 1,960 & 960 \\\hline 400 & 2,760 & 1,760 \\\hline 500 & 4,000 & 3,000 \\\hline 600 & 5,800 & 4,800 \\\hline\end{array}$
Table 10.1 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.
-Refer to Table 10.1.If the market price of each camera case is $8, what is the profit-maximizing quantity?

• A)300 units
• B)400 units
• C)500 units
• D)600 units

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Definitions:

Functional Battery Packs

are power storage devices designed to efficiently supply electricity to various devices, emphasizing practicality and performance.

Faulty Battery Pack

A faulty battery pack is a defective set of battery cells that are not performing as intended, potentially causing operational issues or safety hazards in electronic devices.

Perfect Tender Rule

is a legal principle that requires sellers to deliver goods to buyers that exactly meet the terms of their contract, without any deviations or defects.

Trade Usage

Established practices or methods regularly observed and accepted in a particular industry or trade.