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Author Question: Refer to Table 11-7. What is the average total cost of production when the firm produces 120 ... (Read 175 times)

silviawilliams41

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on: Jun 29, 2018
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

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

C

Answer to Question 2

D


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silviawilliams41

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Reply #2 on: Jun 29, 2018
Thank you :)


bdobbins

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Reply #3 on: Jun 29, 2018
Happy to help you


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