Question

Price Quantity Fixed Cost Variable Cost $15 0 $5 $0 $13 1 $5 $4 $11 2...

Price Quantity Fixed Cost Variable Cost
$15 0 $5 $0
$13 1 $5 $4
$11 2 $5 $9
$9 3 $5 $14
$7 4 $5 $20
$5 5 $5 $29

The profit-maximizing price for this firm is
   a.   $15.
   b.   $13.
   c.   $7.
   d.   $5.
   e.   $9.

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Homework Answers

Answer #1

Answer: $9

Price Quantity Fixed cost variable cost Total cost Total revenue Profit
15 0 5 0 =C2+D2 =A2*B2 =F2-E2
13 1 5 4 =C3+D3 =A3*B3 =F3-E3
11 2 5 9 =C4+D4 =A4*B4 =F4-E4
9 3 5 14 =C5+D5 =A5*B5 =F5-E5
7 4 5 20 =C6+D6 =A6*B6 =F6-E6
5 5 5 29 =C7+D7 =A7*B7 =F7-E7
Price Quantity Fixed cost variable cost Total cost Total revenue Profit
15 0 5 0 5 0 -5
13 1 5 4 9 13 4
11 2 5 9 14 22 8
9 3 5 14 19 27 8
7 4 5 20 25 28 3
5 5 5 29 34 25 -9

The profit of the firm is maximum when the price is $11 and $9. The answer was chosen based on the given option.  

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