Author Question: The figure illustrates the short-run costs of Paul's Picture Frames Inc The picture frame market is ... (Read 93 times)

WhattoUnderstand · **on:** Jun 29, 2018

The figure illustrates the short-run costs of Paul's Picture Frames Inc The picture frame market is perfectly competitive and the market price is 30 a frame.

Paul produces ________ frames each week, makes ________ of total revenue, and makes zero ________ profit. A) 200; 4,000; economic
B) 300; 9,000; normal
C) 200; 4,000; normal
D) 300; 9,000; economic

Question 2

The table above gives production information for Bob's Baseball Cap Company. Bob's total cost when zero caps are produced is 200 and workers cost 10 per hour. The total variable cost of producing 18 baseball hats per hour is

A) 200.00.
B) 30.00.
C) 1.67.
D) More information is needed to answer the question.