Author Question: In the above table, the average total cost of producing 14 units of output is A) 5.71. B) 6.75. ... (Read 210 times)

Haya94 · **on:** Jun 29, 2018

In the above table, the average total cost of producing 14 units of output is

A) 5.71.
B) 6.75.
C) 7.00.
D) 7.86.

Question 2

In monopolistic competition, in the long run customers pay a price that is

A) less than the minimum ATC.
B) more than the minimum ATC.
C) equal to both the minimum ATC and the minimum AVC.
D) equal to the minimum ATC, but not equal to the minimum AVC.