Solved

A Firm Produces 10 Widgets That They Sell for $15

Question 13

Multiple Choice

A firm produces 10 widgets that they sell for $15 each.The average variable cost for the production of 10 widgets is $13/unit.The fixed cost for this firm equals $20.What is the value of this firm's profits?


A) - $20
B) - $2
C) 0
D) $20

Correct Answer:

verifed

Verified

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

Related Questions

Q8: Currently,the marginal cost equation for a shoe

Q9: If a company has significant economies of

Q10: Isoquants from fixed-proportion production functions are<br>A)downward sloping.<br>B)shaped

Q11: If a company has a cost curve

Q12: The marginal product curve of input Y

Q14: Diminishing marginal returns occur when<br>A)one input is

Q15: The opportunity cost of any business decision

Q16: Why do economies of scale and learning

Q17: Refer to Table 5.1 and determine which

Q18: Economies of scale arise when<br>A)all inputs increase