Author Question: Consider the following total cost schedule for a perfectly competitive firm producing ball-point ... (Read 63 times)

gboileau · **on:** Oct 12, 2022

Question 1

Consider the following total cost schedule for a perfectly competitive firm producing ball-point pens.

Output per period	TVC ($)	TFC ($)
0	0	5
10	2	5
20	3	5
30	6	5
40	10	5
50	15	5

TABLE 9-2

Refer to Table 9-2. What is the marginal cost of producing the 15th unit of output?
◦ $0.10
◦ $0.40
◦ $0.375
◦ $0.50
◦ $0.17

Question 2

Consider the following total cost schedule for a perfectly competitive firm producing ball-point pens.

Output per period	TVC ($)	TFC ($)
0	0	5
10	2	5
20	3	5
30	6	5
40	10	5
50	15	5

TABLE 9-2

Refer to Table 9-2. Suppose the prevailing market price for this firm's product is $0.40. The profit-maximizing level of output for this firm is between
◦ 30 and 40 units.
◦ 20 and 30 units.
◦ 0 and 10 units.
◦ 40 and 50 units.
◦ 10 and 20 units.

Asfa · **Reply #1 on:** Oct 12, 2022

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 35% of students answer this correctly