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Author Question: A firm's average variable cost is 60, its total fixed cost is 3,000, and its output is 600 units. ... (Read 101 times)

Mr3Hunna

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on: Jun 29, 2018
A firm's average variable cost is 60, its total fixed cost is 3,000, and its output is 600 units. Its average total cost is
 
  A) less than 58.
  B) between 58 and 62.
  C) between 62 and 64.
  D) more than 64.

Question 2

What is the relationship between the marginal social benefit of milk and marginal social cost of milk when the efficient quantity of milk is produced?
 
  What will be an ideal response?


emsimon14

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

The marginal social benefit of milk equals its marginal social cost.


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Mr3Hunna

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Reply #2 on: Jun 29, 2018
Thank you :)


emsimon14

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Reply #3 on: Jun 29, 2018
Happy to help you


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