Question: a) The manager of an Electronic Corporation has estimated the total fixed and the total variable cost function for producing a particular type of camera to be:

If the Corporation sells the cameras at a price of $60 each, how many cameras at the minimum it must produce in order to avoid loss?

b) Suppose you are a manager of a watch making firm operating in a competitive market. Your cost of production is given by: \(C=100+{{Q}^{2}}\) , where Q is the level of output and C is the total cost. The marginal cost is 2Q. The marginal cost of production is 2Q.

1. If the price of watch is $60, how many watches should you produce to maximize profit?
   ii) What will your profit level be? Will there be entry or exit?
   iii) At what minimum price will you produce a positive output?
   
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