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Wenqin Is a Farmer,and in the Short Run She Produces

Question 154

Multiple Choice

Wenqin is a farmer,and in the short run she produces 100 bushels of wheat.Her average total cost per bushel is $1.75,total revenue is $450,and total fixed costs are $100.Wenqin's:


A) average fixed cost is $1.50.
B) economic profit per bushel is $2.75.
C) average variable cost is $1.25.
D) economic profit is $250.

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