Hiya!
Here is an economical graph. We see that if the company charges $2, they make no profit. The maximum amount of profit is at $6, and consumers view this as a fair price, so they buy it. If they charge $10, they once again have no profit.
Basically, if they charge too little, they don't make any money. Too much, and consumers won't purchase it. They happy medium is $6.
Part A.) Given the guidelines above that I explained, the price should be $6 to make a maximum profit.
Part B.) The absolute minimum would be just over $2. They'd make a few cents.
Part C.) (P) stands for price in this chart. So, P(10) would be what the company could charge-$10. However, they would gain no profit if they did so.
If you found this especially helpful, I'd appreciate if you'd vote me Brainliest for your answer, if other people did not provide a helpful answer (but, I'm sure they did!). I want to be able to assist more users one-on-one! :)
