A perfectly competitive firm is producing 50 units of output and selling at the market price of $23. The firm's average total cost is $20. What is the firm's total cost?
A) $23
B) $150
C) $1,000
D) $1,150
E) $20
C
Economics
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If Q = K1/3L2 the MPL is
a. constant b. diminishing c. increasing
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What will be an ideal response?
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What will be an ideal response?
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