Solved

TABLE 10- 2 Your Food- Services Company Has Been Named

Question 102

Multiple Choice

TABLE 10- 2 Your food- services company has been named as the sole provider of meals at a small university.The cost and demand schedules are:  Sold per Day  Price per  Meal  Total  Fixed Cost  Total  Variable Cost  Total  Revenue 0$3.50$150$0$0100$3.25$150$300$325200$3.00$150$500$600300$275$150$650$825400$250$150$750$1000500$225$150$830$1125600$200$150$905$1200700$1.75$150$995$1225\begin{array} { | c | c | c | c | c | } \hline \text { Sold per Day } & \begin{array} { c } \text { Price per } \\\text { Meal }\end{array} & \begin{array} { c } \text { Total } \\\text { Fixed Cost }\end{array} & \begin{array} { c } \text { Total } \\\text { Variable Cost }\end{array} & \begin{array} { c } \text { Total } \\\text { Revenue }\end{array} \\\hline 0 & \$ 3.50 & \$ 150 & \$ 0 & \$ 0 \\\hline 100 & \$ 3.25 & \$ 150 & \$ 300 & \$ 325 \\\hline 200 & \$ 3.00 & \$ 150 & \$ 500 & \$ 600 \\\hline 300 & \$ 275 & \$ 150 & \$ 650 & \$ 825 \\\hline 400 & \$ 250 & \$ 150 & \$ 750 & \$ 1000 \\\hline 500 & \$ 225 & \$ 150 & \$ 830 & \$ 1125 \\\hline 600 & \$ 200 & \$ 150 & \$ 905 & \$ 1200 \\\hline 700 & \$ 1.75 & \$ 150 & \$ 995 & \$ 1225 \\\hline\end{array}
-Refer to Table 10- 2,and suppose that the firm is a single- price monopolist.At the profit- maximizing level of output,the firm's total profit per day will be


A) $295.
B) $150.
C) $145.
D) $100.
E) $75.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents