A catering company is producing at a point where its marginal costs are 25 and its fixed costs are 5000 . At the current price of 10 it is producing 50 meals. If the demand goes up, such that they can now charge 20 per meal, how much should the firm now produce?
a. 60 meals
b. 70 meals
c. 80 meals
d. None, they should shut down
Question 2
Which of the following is an example of a metering strategy
a. A supermarket offers free parking space but charges higher for grocery
b. A television reseller spends time making sure that the picture quality of the bargain priced sets is fuzzy
c. Razors are sold at unit cost while razor blades have large profit margins
d. All of the above
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