Profit Answers
Using this table, calculate the profit at each level of bicycle production.
The fourth bike: $[___]
20
The sixth bike: $[___]
50
The seventh bike: $[___]
60
Five bikes: $[___]
90
Six bikes: $[___]
90
Seven bikes: $[___]
80
Using this table, calculate the marginal cost of each of these quantities of bikes.
This graph shows the marginal cost of producing each bike. Select the correct answer from the options available.Based on this graph, which bike has a marginal cost of $20?
One bike: -$[___]
30
This graph shows the marginal costs of each bike, along with the market price. Select the correct answer from the options available.Based on this graph, at which level of production does the producer’s profit stop increasing?
Two bikes: $[___]
3
Three bikes: $[___]
40
Four bikes: $[___]
70
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