Ex8215

Ex8215 - has variable costs of $10 per unit and a capacity...

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Have you ever worked in a restaurant? Y e s N o 66% 34% 1. Yes 2. No
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A firm’s total costs are $100+4Q where Q is the number of units produced. If this firm produces 10 units, its average total cost is 2% 2% 1% 6% 89% 1. $4 2. $10 3. $14 4. $40 5. $50
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A firm’s total costs are $100+4Q where Q is the number of units produced. If this firm produces 10 units, its average variable cost is 66% 10% 18% 1. $4 2. $10 3. $14 4. $40 5. $50
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A firm has already incurred fixed costs of $120. It
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Unformatted text preview: has variable costs of $10 per unit and a capacity of 12 units. It faces a competitive market with price p. It should sell a n d . 48% 5% 47% 1. 12 units if p>$10 and no units if p<10. 2. 12 units if p>$20 and no units if p<$20. 3. 12 units if p>$10 and 6 units if p<$10. And on to our lecture...
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Ex8215 - has variable costs of $10 per unit and a capacity...

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