Refer to the information. The average fixed cost of 3 units of output is:
The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use this information to answer the following question.
A. $13.33.
B. $12.50.
C. $40.
D. $18.50.
A. $13.33.
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A trade deficit occurs when:
A. tariffs exceed quotas. B. imports exceed exports. C. quotas exceed tariffs. D. exports exceed imports.
What is deadweight loss and under what conditions does it occur?
What will be an ideal response?
The ________ effect refers to the change in quantity demanded for a good that results from the effect of a change in the good's price on consumer's purchasing power
A) substitution B) population C) ceteris paribus D) income
Which of the following will increase the supply of a good?
a. An increase in the price of another good that producers could produce. b. A lower price paid for resources used in the production of the good. c. A decrease in the number of sellers. d. An increase in taxes paid to the government by producers.