Acme, Inc. is currently producing 12,000 gadgets per year. Acme's average total cost (ATC) is $18 per year. What is Acme's total cost (TC) per year?
a. $667
b. $108,000
c. $216,000
d. $500
e. $1500
c. $216,000
ATC: TC / ? units 18 = TC / 12,000
TC = 18 * 12,000
TC = 216,000
You might also like to view...
In both the 1970s and the 1990s, extreme economic events caused unemployment to move in the same direction as inflation.
Answer the following statement true (T) or false (F)
Consider Paul's decision to go to college. If he goes to college, he will spend $90,000 on tuition, $15,000 on room and board, and $7,000 on books. If he does not go to college, he will earn $22,000 working at a construction job and he will spend $11,000 on room and board. Paul's cost of going to college is
a. $96,000. b. $110,000. c. $114,000. d. $123,000.
Temporary Assistance to Needy Families is a government program with the goal of:
A. social insurance. B. redistribution. C. economic growth. D. None of these is true.
What is the cost of transactions as it relates to the harm caused by inflation?
A. The cost associated with the time and effort of managing your spending B. Production costs plus profit C. The cost of the products whose prices are rising D. The cost of the BLS market basket