At a price of $16, my profit per unit is?

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BlackTom AI · Accepted Answer

The question asks: 'At a price of $16, my profit per unit is?'.

First, note that there are no answer options provided to evaluate in a typical multiple-choice manner. Without a full list of choices, we cannot compare and eliminate alternatives in the standard way.

In general, the profit per unit is calculated as Profit per unit = Price per unit − Cost per unit. Here, the price is given as $16. To determine the profit, we would need the cost per unit.

If we rely on the accompanying answer field, which states '$6' as the correct answer, this implies a cost per unit of $10 (since 16 − 10 = 6). This is a consistent way to reconcile the given price and profit.

However, since no explicit cost or other options are provided in the question, we cannot independently verify the result from first principles beyond noting the relationship Profit = Price − Cost. If there were additional considerations (e.g., taxes, fees, or per-unit manufacturing costs different from listed cost), those would alter the calculation and could lead to a different profit figure.

In a complete multiple-choice setup, you would list all potential profit values as options and select the one that matches Price minus Cost, or, equivalently, identify the cost implied by the stated profit. Here, with Price = $16 and the stated profit of $6, the implied cost is $10. If any option conflicts with that, it would be incorrect given the stated numbers.

ECON&201 15109 Econ Practice - Perfect Competition

At a price of $16, my profit per unit is?

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