Multiple Choice
Use the following to answer question:
-(Table: Cakes) Use Table: Cakes.Pat is opening a bakery to make and sell special birthday cakes.She is trying to decide how many mixers to purchase.Her estimated fixed and average variable costs if she purchases 1,2,or 3 mixers are shown in the table.Assume that average variable costs do not vary with the quantity of output.If Pat purchases 2 mixers and bakes 100 cakes per day,what is her average fixed cost?
A) $10,000
B) $1,000
C) $15
D) $10
Correct Answer:

Verified
Correct Answer:
Verified
Q279: The larger the output,the more variable input
Q280: In economics,the short run is:<br>A)less than 1
Q281: Use the following to answer question: <img
Q282: (Table: Tonya's Production Function for Apples)Use Table:
Q283: Average variable cost does NOT equal:<br>A)variable cost
Q285: Use the following to answer question: <img
Q286: The slope of a long-run average total
Q287: Economies of scale most often occur in
Q288: Use the following to answer question: <img
Q289: The marginal cost curve intersects the average