Multiple Choice
Use the following to answer questions:
-(Table: Cakes) Look at the 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 one, two, or three mixers are shown in the table. Assume that average variable costs do not vary with the quantity of output. If Pat purchases two 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
Q97: If your firm is operating in the
Q104: In the long run,some of a firm's
Q183: When a firm adds physical capital,its fixed
Q184: If a firm builds a larger plant
Q218: A university that benefits from lower costs
Q333: Use the following to answer questions: <img
Q334: The larger the output, the more variable
Q336: Use the following to answer questions: <img
Q338: Use the following to answer questions:<br>Figure: Short-Run
Q342: Use the following to answer questions:<br>Figure: A