Question

A firm that produces bluetooth speakers collected the following data to determine their possible profits. What profit will bluetooth speaker sales bring this firm when it sells at the profit-maximizing level of output?

Answer 1

The profit will Bluetooth speaker sales bring this firm when it sells at the profit-maximizing level of output is $975

Profit-maximizing level

In economics, profit maximizing level of output means where its marginal cost (MC) just equals the product price and where marginal cost is increasing; that is, the MC curve is sloping upward.

Given

A firm that produces Bluetooth speakers collected the following data to determine their possible profits.

Here we need to find the profit will Bluetooth speaker sales bring this firm when it sells at the profit-maximizing level of output.

In order to find the profit-maximizing level of output for the Bluetooth, we have to subtract the maximum price by the minimum price.

For example let us consider $1000 be the maximum price of the Bluetooth and $25 is minimum price of the Bluetooth,

Then the profit-maximizing level of output is calculated as,

=> 1000 - 25

=> 975.

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