Multiple Choice
Suppose a fishing boat currently brings 10,000 fish to market and earns a profit of$40,000 when the price of fish is $8. Suppose the boat dealer had overcharged the boat owner for the boat. Upon receiving a refund of $25,000 from the dealer, what will happen to the AVC of producing 10,000 fish?
A) increases by $25
B) increases by $2.50
C) does not change
D) decreases by $2.50
E) decreases by $25
Correct Answer:
Verified
Correct Answer:
Verified
Q125: A fishing boat owner sells her entire
Q126: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB10702/.jpg" alt=" -In Exhibit I-1,
Q127: The town of Marshall's Boy Scout Troop
Q128: Consider a firm with the following cost
Q129: There may be other goals an entrepreneur
Q131: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB10702/.jpg" alt=" -In Exhibit I-8,
Q132: The lesson learned from the discussion about
Q133: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB10702/.jpg" alt=" -In Exhibit I-6,
Q134: Picture the curve. The total revenue curve
Q135: If the price doesn't change, no matter