Imagine that you are an entrepreneur, making designer t-shirts in your garage. Your total cost (in dollars) is given by the equation TC = 300 + 10Q, where Q represents the number of t-shirts you make. If you make 1,000 t-shirts, your average total cost is ________.
A. $3.10
B. $10.30
C. $3
D. $1.03
Answer: B
You might also like to view...
In the short run, a perfectly competitive firm can make a profit, a loss, or shut down.
Answer the following statement true (T) or false (F)
A research firm's findings concluded that the demand for movie tickets is price elastic in the afternoon but inelastic in the evenings. Given this information, to increase overall revenue the theatre owners should
a. Reduce the ticket prices for the afternoon shows and reduce the ticket prices for the evening shows b. Increase the ticket prices for the afternoon shows and reduce the ticket prices for the evening shows c. Reduce the ticket prices for the afternoon shows and increase the ticket prices for the evening shows d. Increase the ticket prices for the afternoon shows and increase the ticket prices for the evening shows
An M-form of organization is exploiting functional business areas
Indicate whether the statement is true or false
What were the top three destinations for U.S. exports of goods and services in 2011 in order of importance?
a. France, Germany, and the United Kingdom b. Japan, China, and South Korea c. Canada, Mexico and China d. China, Japan, and United Kingdom