A shoe company will make a new type of shoe. The fixed cost for the production will be $24,000. The variable cost will be $32 per pair of shoes. The shoes will sell for $106 for each pair. What is the profit if 600 pairs are sold? $44,400 $68,400 $20,400 Correct answer $58.800

A shoe company will make a new type of shoe. The fixed cost for the production will be $24,000. The variable cost will be $32 per pair of shoes. The shoes will sell for $106 for each pair. What is the profit if 600 pairs are sold? $44,400 $68,400 $20,400 Correct answer $58.800

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 3SCQ: The WipeOut Ski Company manufactures skis for beginners. Fixed costs are 30. Fill in Table 7.16 for...

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Question 2
Solve the problem.
A shoe company will make a new type of shoe. The fixed cost for the production will be
$24,000. The variable cost will be $32 per pair of shoes. The shoes will sell for $106 for each
pair.
What is the profit if 600 pairs are sold?
1.
$44,400
2.
$68,400
3.
$20,400 Correct answer
4.
$58,800

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