Multiple Choice
A perfectly competitive firm sells 15 units of output at the going market price of $10.Suppose its average fixed cost is $15 and its average variable cost is $8.Its contribution margin (i.e.,contribution to fixed cost) is
A) $30.
B) $150.
C) $105.
D) Cannot be determined from the above information
Correct Answer:
Verified
Correct Answer:
Verified
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