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Author Question: When choosing the production level for tomorrow you find that at an output of 100 units, the total ... (Read 80 times)

c0205847

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  • Posts: 531
on: Jun 30, 2018
When choosing the production level for tomorrow you find that at an output of 100 units, the total variable costs are 20,000 and the average fixed cost is only 50 . If the market price is 200, you should:
 a. b or e.
  b. shut down.
  c. produce more than 100 units.
  d. produce fewer than 100 units.
  e. produce where MC = MR.

Question 2

Price elasticities of supply are always:
 a. the same as price elasticities of demand.
  b. negative numbers.
  c. positive numbers.
  d. greater than one.
  e. increased when a tax is imposed.


lauravaras

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


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