Refer to the data. The average variable cost of 4 units of output is:
Answer the question on the basis of the accompanying table that shows average total costs (ATC) for a manufacturing firm whose total fixed costs are $10:
A. $33.50.
B. $28.50.
C. $19.00.
D. $21.00.
B. $28.50.
You might also like to view...
In the New Keynesian model,
A) money is neutral. B) money is fixed. C) monetary policy has a real impact. D) prices are countercyclical.
The price elasticity of supply measures how much
a. the quantity supplied responds to changes in input prices. b. the quantity supplied responds to changes in the price of the good. c. the price of the good responds to changes in supply. d. sellers respond to changes in technology.
Economists call a game that is played more than once:
A. cooperative price play. B. a repeated game. C. collusion. D. a commitment strategy.
When considering the factor distribution of income, which of the following income is represented as proprietor income?
A. Interest for loans on capital. B. Rent for capital. C. Wages for workers D. Labor or capital factors that proprietors put into their businesses