Solved

-Figure 7-7 Shows a Firm's Total Variable Cost for Different

Question 26

Multiple Choice

-Figure 7-7 shows a firm's total variable cost for different daily output levels.In addition,the firm has total fixed cost of $50 per day.At an output level of 20 units,average variable cost is A) $75.00,and average fixed cost is $2.50 B) $17.50,and average fixed cost is $50.00 C) $150.00,and average fixed cost is $2.50 D) $7.50,and average fixed cost is $50.00 E) $17.50,and average fixed cost is $2.50
-Figure 7-7 shows a firm's total variable cost for different daily output levels.In addition,the firm has total fixed cost of $50 per day.At an output level of 20 units,average variable cost is


A) $75.00,and average fixed cost is $2.50
B) $17.50,and average fixed cost is $50.00
C) $150.00,and average fixed cost is $2.50
D) $7.50,and average fixed cost is $50.00
E) $17.50,and average fixed cost is $2.50

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q21: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -In Figure 7-4,marginal

Q22: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -The firm depicted

Q23: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -Figure 7-1 shows

Q24: The marginal product of labor is the<br>A)total

Q25: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -Figure 7-1 shows

Q27: Average Fixed Cost is the<br>A)horizontal distance (at

Q28: Long-run average total cost must always be<br>A)rising<br>B)declining<br>C)greater

Q29: Which of the following is an implicit

Q30: Average variable cost is<br>A)total cost minus fixed

Q31: The firm's long-run average total cost curve<br>A)intersects