« previous next »

Author Question: A firm's average variable cost is 60, its total fixed cost is 3,000, and its output is 600 units. ... (Read 197 times)

Mr3Hunna

  • Hero Member
  • *****
  • Posts: 536
on: Jun 29, 2018
A firm's average variable cost is 60, its total fixed cost is 3,000, and its output is 600 units. Its average total cost is
 
  A) less than 58.
  B) between 58 and 62.
  C) between 62 and 64.
  D) more than 64.

Question 2

What is the relationship between the marginal social benefit of milk and marginal social cost of milk when the efficient quantity of milk is produced?
 
  What will be an ideal response?


emsimon14

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

The marginal social benefit of milk equals its marginal social cost.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

Mr3Hunna

  • Hero Member
  • *****
  • Posts: 536
Reply #2 on: Jun 29, 2018
Thank you :)


emsimon14

  • Sr. Member
  • ****
  • Posts: 344
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Population predictions for 2000–2050, using three different total fertility rates ( Population predictions for 2000–2050, using three different total fertility rates (
On average, the ratio of carbon to nitrogen is much higher in terrestrial plants than in other major On average, the ratio of carbon to nitrogen is much higher in terrestrial plants than in other major
Units of Radiation Measurement Units of Radiation Measurement
The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum
Energy and Energy Units Energy and Energy Units
A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ... A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ...
Video: Buffers definition and the role of buffer in the body

For a complete list of videos, visit our video library