Question
Quantity Price ($) Total Cost ($) 0 170 100 1 160 140 2 150 184 3 140 230 4 130 280 5 120 335 6
| Quantity | Price ($) | Total Cost ($) |
| 0 | 170 | 100 |
| 1 | 160 | 140 |
| 2 | 150 | 184 |
| 3 | 140 | 230 |
| 4 | 130 | 280 |
| 5 | 120 | 335 |
| 6 | 110 | 393 |
| 7 | 100 | 475 |
| 8 | 90 | 565 |
The above table shows the demand and cost information relating to Jack's Shoe Store. Jack owns the only shoe store in town.
1. What is consumer surplus at the profit-maximizing quantity? (Answer is not 180)
| a. | $0 | |
| b. | $30 | |
| c. | $60 | |
| d. | $100 | |
| e. | $150 | |
| f. | $210 | |
| g. | $280 | |
| h. | $320 | |
| i. | $417 | |
| j. | $587 | |
| k. | $660 | |
| l. | $810 |
2. If Jack could perfectly price discriminate, what is total profit at the profit-maximizing quantity? (Answer is not 475)
| a. | $150 | |
| b. | $220 | |
| c. | $267 | |
| d. | $300 | |
| e. | $320 | |
| f. | $365 | |
| g. | $393 | |
| h. | $417 | |
| i. | $435 | |
| j. | $587 | |
| k. | $660 | |
| l. | $810 |
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Excise Tax Ozone Depleting Chemicals IRS Audit Techniques Guide
Authors: Internal Revenue Service
1st Edition
1304114279, 978-1304114273
