The Total Fixed Costs of a Perfectly-Competitive Manufacturer Are $500,and

question 4

Multiple Choice

The total fixed costs of a perfectly-competitive manufacturer are $500,and its marginal costs are as follows:

-Refer to the above information to answer this question.If the price of the product is $350,how many will the manufacturer produce and what will be its profit or loss?

• A)0 and a loss of $500.
• B)6 and a profit of $900.
• C)7 and a profit of $950.
• D)7 and a profit of $1,450.
• E)8 and a profit of $880.

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Definitions:

Room Temperature

The ambient temperature of a living space, usually considered to be around 20-22 degrees Celsius or 68-72 degrees Fahrenheit.

Aggressive Behaviour

Actions or responses by an individual that are intended to harm or intimidate another.

Survey Method

A research technique that involves collecting data from a sample of individuals through their responses to questions.

Questionnaires

A research instrument consisting of a series of questions for the purpose of gathering information from respondents, often used in surveys and studies.