Refer to Table 11-7. What is the average total cost of production ...

[silviawilliams41]

Refer to Table 11-7. What is the average total cost of production when the firm produces 120 lanterns?
 
  A) 1,680 B) 72 C) 14 D) 12.3

Question 2

A perfectly competitive firm's supply curve is its
 
  A) marginal cost curve above its minimum average fixed cost.
  B) marginal cost curve above its minimum average total cost.
  C) marginal cost curve.
  D) marginal cost curve above its minimum average variable cost.

[bdobbins]

Answer to Question 1

C

Answer to Question 2

D

[silviawilliams41]

Thank you

[bdobbins]

Happy to help you