Ch_4_5_Quiz_3_Sp17 practice problems 68.docx - Name Class Date Practice Problems on Chapters 4 and 5 for ECN 220 Quiz 3 Sp17 Indicate the answer choice

Ch_4_5_Quiz_3_Sp17 practice problems 68.docx - Name Class...

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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
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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 Page 2
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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 Page 3
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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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