Author Question: Fernando charges the restaurant Flaming Fernando's 1,000 annually for use of his name. If Fernando ... (Read 99 times)

javeds · **on:** Jun 29, 2018

Fernando charges the restaurant Flaming Fernando's 1,000 annually for use of his name. If Fernando increases the fee for use of his name

A) the restaurant's average fixed cost, average variable cost, average total cost, and marginal cost curves all shift upward.
B) the restaurant's average fixed cost, average total cost, and marginal cost curves shift upward.
C) the restaurant's average variable cost, average total cost, and marginal cost curves shift upward.
D) the restaurant's average fixed cost and average total cost curves shift upward.

Question 2

Giuseppe's Pizza is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price is 15, the firm will

A) shut down.
B) leave the market in the long run.
C) stay in the market in the long run.
D) make an economic profit.