Name: Class:Date: Practice Problems on Chapters 4 and 5 for ECN 220 Quiz 3 Sp17Indicate the answer choice that best completes the statement or answers the question.Table 13-7The Flying Elvis Copter RidesQuantityTotalCostFixedCostVariableCostMarginalCostAverageFixedCostAverageVariableCostAverageTotalCost0$50$50$0--------1$150ABCDEF2GHI$120JKL3MNOPQ$120R
1. Refer to Table 13-7.What is the value of A?
a. $25b. $50c. $100d. $200
2. Refer to Table 13-7.What is the value of B?
3. Refer to Table 13-7.What is the value of C?
4. Refer to Table 13-7.What is the value of D?
5. Refer to Table 13-7.What is the value of E?
a. $25b. $50c. $100d. $1506. Refer to Table 13-7.
What is the value of F?
Page 1

Name: Class:Date: Practice Problems on Chapters 4 and 5 for ECN 220 Quiz 3 Sp17c. $150d. $200
7. Refer to Table 13-7.What is the value of G?
8. Refer to Table 13-7.What is the value of H?
9. Refer to Table 13-7.What is the value of I?
a. $110b. $120c. $220d. $270
10. Refer to Table 13-7.What is the value of J?
11. Refer to Table 13-7.What is the value of K?
12. Refer to Table 13-7.What is the value of L?
13. Refer to Table 13-7.What is the value of M?
a. $50
b. $140
c. $360
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Name: Class:Date: Practice Problems on Chapters 4 and 5 for ECN 220 Quiz 3 Sp17d. $410
14. Refer to Table 13-7.What is the value of N?
15. Refer to Table 13-7.What is the value of O?
16. Refer to Table 13-7.What is the value of P?
17. Refer to Table 13-7.What is the value of Q?
a. $16.67b. $50c. $136.67d. $360
18. Refer to Table 13-7.What is the value of R?
Table 13-14QuantityofOutputFixedCostVariableCostTotalCostAverageFixedCostAverageVariableCostAverageTotalCostMarginalCost1$23$332$383$704$645$1106$1187
$143
8
$185
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Name: Class:Date: Practice Problems on Chapters 4 and 5 for ECN 220 Quiz 3 Sp17
19. Refer to Table 13-14.What is the variable cost of producing 5 units of output?
20. Refer to Table 13-14.What is the variable cost of producing 8 units of output?
21. Refer to Table 13-14.What is the fixed cost of production for this firm?
a. $10b. $20c. $23d. $3322. Refer to Table 13-14.What is the total cost of producing 2 units of output?

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