Question

1. You are the CEO of Sun Motors. Your company is hiring a new division manager....

1. You are the CEO of Sun Motors. Your company is hiring a new division manager. A candidate made the following statement in the interview: “I have the necessary experience to control production. In order to maximize profits, I will make sure that we operate at the minimum point of our average total cost curve…” Do you think the candidate should be hired as the division manager? Why or why not? Comment on the candidate’s statement.

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Answer #1

The statement that the candidate made isn't appropriate and this is because of the fact that in order to maximize profit the quantity that has to be produced is when the marginal cost of production is equal to the marginal revenue generated and not at the lowest point of the average total cost and that is the reason why why the statement is actually in appropriate for the profit maximization strategy and that is the reason why his basics aren't correct and therefore he shouldn't be hired

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