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
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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