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Author Question: Use the data in the table above and suppose that labor is the only variable factor of production. ... (Read 70 times)

Jkov05

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  • Posts: 556
on: Jun 29, 2018
Use the data in the table above and suppose that labor is the only variable factor of production. When 122 dozen donuts are produced at Decent Donuts, the AVC curve
 
  A) has a negative slope.
  B) has a positive slope.
  C) is at its minimum point.
  D) is at its maximum point.

Question 2

The figure above shows the situation facing Smart Digit, Inc, a firm in monopolistic competition that produces calculators. The firm's markup is ________ per calculator.
 
  A) zero
  B) 2
  C) 4
  D) 6


mcomstock09

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

B

Answer to Question 2

D


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