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) profit per bushel is $2.75.
C) average variable cost is $1.25.
D) economic profit is $250.
Correct Answer:
Verified
Correct Answer:
Verified
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