Suppose that a firm is currently producing 500 units of output. At this level of output, TVC = $10,000 and TFC = $25,000. What is the firms ATC?
A. $100
B. $50
C. $70
D. $20
Answer: C
You might also like to view...
During the recession of 2007-2009 in the United States, ________ relative to potential GDP
A) business fixed investment spending rose and net export spending declined B) federal government purchases rose and changes in business inventories declined C) consumption spending rose and residential construction spending declined D) net export spending rose and consumption spending declined
A bear market is one in which prices are expected to rise.
Answer the following statement true (T) or false (F)
Which of the following rises during a contraction and falls during the expansion phase of the business cycle?
a. prices b. unemployment c. output d. interest rates
Refer to Figure 7.2. If Happy Times Theater charges one price to day customers and a different price to night customers, then the profit will be
A. $562.50. B. $374.25. C. $62.50. D. $150.00.