In the above figure, what is total cost at the profit-maximizing point?
A) $182
B) $126
C) $112
D) $170
C
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A production indifference curve is sometimes called “isoquants” since the term implies equal quantities of output.
Answer the following statement true (T) or false (F)
Consider a market that is in equilibrium. If it experiences both an increase in demand and a decrease in supply, what can be said of the new equilibrium? The equilibrium:
A. price and quantity will both rise. B. quantity will definitely rise, while the equilibrium price cannot be predicted. C. price will definitely rise, while the equilibrium quantity cannot be predicted. D. price and quantity will both fall.
If the firms hires 5 workers, the average variable costs equals
a. $10 b. $100 c. $800 d. Need more information
The required Reserve ration is 25% an additional 5,000 of reserves can increase the money supply by?
A. 1,250 B. 125,000 C. 25,000 D. 20,000 E. 5,000