-Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $9. What does profit equal when quantity equals 3?

Question

Quizplus · Accepted Answer

Profit is calculated as total revenue minus total cost. With a quantity of 3 and a price of $9, total revenue is $27 (3 units * $9/unit). Without the specific cost values from the table, we can't calculate the exact total cost for 3 units. However, given the options and the context, if the correct answer is $6, it implies that the total cost for 3 units must have been $21 ($27 - $21 = $6). This is a hypothetical explanation based on the provided answer option and the assumption of operating in a perfectly competitive market at the given price.

-Refer to the Above Table