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Suppose that the price of Jackets is $3. In addition, suppose that the firm's total costs are $36 and that the firm currently sells 50 Jackets.

Given this information, what is this firm's total revenue?

 

Hint


Suppose that the price of Pineapples is $3. In addition, suppose that the firm's total costs are $10 and that the firm currently sells 100 Pineapples.

Given this information, what is this firm's profits?

 

Hint




The table below shows data for the production of Apples for an individual firm operating in a perfectly competitive market.

Quantity of ApplesTotal RevenueTotal Costs
0030
104050
208062
3012071
4016080
5020089
60240100
70280130
80320200

Given this data, what is the per unit price of Apples?

 

Hint


The table below shows data for the production of pineapples for an individual firm operating in a perfectly competitive market.

Quantity of pineapplesTotal RevenueTotal Costs
0010
106030
2012040
3018060
4024090
50300130
60360180
70420240
80480310

Given this data, what are this firm's profits if it chooses to produce 80 pineapples?

 

 

Hint


The table below shows data for the production of apples for an individual firm operating in a perfectly competitive market.

Quantity of applesTotal RevenueTotal Costs
0010
103030
206040
309060
4012090
50150130
60180180
70210240
80240310

Given this data, complete the table:

 Quantity of apples  Profit
0
10
20
30
40
50
60
70
80


At what quantity does this firm maximize its profit?

NOTE: If there are two quantities with the same level of profits, pick the larger of the two quantities!



Hint


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