Multiple Choice
Consider the following data: equilibrium price = $15, quantity of output produced = 10,000 units, average total cost = $12, and average variable cost $7. Given this data, total revenue is __________, total cost is __________, and total fixed cost is __________.
A) $15,000; $12,000; $7,000
B) $150,000; $120,000; $70,000
C) $15,000; $12,000; $5,000
D) $150,000; $120,000; $50,000
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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