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 $70,how many will the manufacturer produce and what will be its profit or loss?

Question

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 $70,how many will the manufacturer produce and what will be its profit or loss?

Quizplus · Accepted Answer

Without specific information on costs, demand, or production functions, it's impossible to accurately determine the quantity produced and the profit or loss at a $70 price point. However, the correct choice is based on the information that would have been provided in the "above information," which is not visible in this format. The answer provided is based on typical economic principles where a loss is incurred if fixed costs are not covered by sales revenue, assuming the "above information" indicated a scenario leading to choice A.

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