Table 71 Table 71 Shows the Short-Run Cost Data of a Perfectly Competitive

question 256

Multiple Choice

Table 7.1
$$\begin{array} { | c | c | c | } \hline \text { Quantity } & \begin{array} { c } \text { Total Cost } \\\text { (dollars) }\end{array} & \begin{array} { c } \text { Variable Cost } \\\text { (dollars) }\end{array} \\\hline 0 & \$ 1000 & \$ 0 \\\hline 100 & 1360 & 360 \\\hline 200 & 1560 & 560 \\\hline 300 & 1960 & 960 \\\hline 400 & 2760 & 1760 \\\hline 500 & 4000 & 3000 \\\hline 600 & 5800 & 4800 \\\hline\end{array}$$ Table 7.1 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 7.1.If the market price of each camera case is $8,the profit-maximising quantity is

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

---

Definitions:

Hormones

Chemical messengers secreted by glands in the body, transported in the bloodstream to target organs or tissues, where they exert specific effects.

Coordinated Solution

A comprehensive approach to problem-solving that involves the integration and alignment of multiple strategies or components.

Supply Chain Profit

The total profit generated through all stages of the supply chain, from raw material sourcing to the final sale of the product.

Independent Pricing

The practice where prices for goods or services are set independently by each entity without coordination with others, often in competitive markets.