Multiple Choice
A fishing boat owner sells her entire catch of 8,000 fish and maximizes profit that is equal to $4,000. Suppose fish prices increase and you are asked to calculate her profit knowing that she now sells 10,000 fish. If fish prices increased by $1 per fish, what do you need to know to calculate her new profit level?
A) average fixed cost
B) average variable cost
C) change in average total cost
D) marginal cost
E) average total cost
Correct Answer:
Verified
Correct Answer:
Verified
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