Table 71 Table 71 Shows the Short-Run Cost Data of a Perfectly Competitive

Multiple Choice

Table 7.1
$$\begin{array} { | c | c | c | } \hline \text { Quantity } & \begin{array} { c } \text { Total Cost } \\\text { (dollars) }\end{array} & \begin{array} { c } \text { Variable Cost } \\\text { (dollars) }\end{array} \\\hline 0 & \$ 1000 & \$ 0 \\\hline 100 & 1360 & 360 \\\hline 200 & 1560 & 560 \\\hline 300 & 1960 & 960 \\\hline 400 & 2760 & 1760 \\\hline 500 & 4000 & 3000 \\\hline 600 & 5800 & 4800 \\\hline\end{array}$$ Table 7.1 shows the short-run cost data of a perfectly competitive firm that produces plastic camera cases. Assume that output can only be increased in batches of 100 units.
-Refer to Table 7.1.If the market price of each camera case is $8 and the firm maximises profit,what is the amount of the firm's profit or loss?

A) $0 (it breaks even)
B) Loss of $1000
C) Profit of $440
D) Loss of $440