Question: Continuing with the bicycle firm described in the previous problem, consider how the firm's decision-making will change as the price of bicycles changes. For each of the following, make a new table.
a. If the price per bicycle were $100, what would the profit-maximizing level of output be? How much profit would the firm make?
b. If the price per bicycle were $20, what would the profit-maximizing level of output be? How much profit would the firm make?