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
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
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
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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