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Refer to Table 12-1

Question 29
Multiple Choice

Refer to Table 12-1.If the market price of each camera case is $8 and the firm maximizes profit,what is the amount of the firm's profit or loss? A) $0 (it breaks even) B) loss of $1,000 C) profit of $440 D) loss of $440

Related questions
Q 30
Refer to Table 12-1.Suppose the fixed cost of production rises by $500 and the price per unit is still $8.What happens to the firm's profit-maximizing output level? A) It must fall. B) It must rise to offset the increased cost. C) It will remain the same. D) The firm will shut down.
Q 31
Refer to Table 12-1.The firm will not produce in the short run if the output price falls below A) $8. B) $4. C) $3.20. D) $2.80.
Q 32
Refer to Figure 12-1.If the firm is producing 700 units, A) it is making a profit. B) it is making a loss. C) it should cut back its output to maximize profit. D) it should increase its output to maximize profit.
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