Question
Please help me solve this: The market price for the bicycles is currently $500, and we have been producing 13 bicycles per week. I don't
Please help me solve this:
The market price for the bicycles is currently $500, and we have been producing 13 bicycles per week. I don't believe that my firm could be doing any better producing any other level of output (we are currently breaking even).
1. I would like for FREAC to look into to production choices and give us its expert opinion as to whether we could improve the weekly profit (see the attached cost schedule).
2. Make a supply schedule for the firm by filling out the table below (assume that only whole bicycles can be produced -- 9 or 10, not 9.374). What quantity of bicycles should we supply at a market price of $200, $250, $300, $500, $550, $600 if we want to maximize profit?
price | $200 | $250 | $300 | $350 | $400 | $450 | $500 | $550 | $600 |
firm Qs (per week) |
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