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Author Question: Average variable cost is equal to A) average total cost minus average fixed cost. B) average ... (Read 607 times)

storky111

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  • Posts: 561
on: Jun 29, 2018
Average variable cost is equal to
 
  A) average total cost minus average fixed cost.
  B) average total cost multiplied by output.
  C) total cost divided by output.
  D) the change in total cost divided by the change in output.

Question 2

The figure above shows a monopoly's total revenue and total cost curves. The monopoly's economic profit is maximized when it produces
 
  A) 0 units of output.
  B) 5 units of output.
  C) 15 units of output.
  D) 20 units of output.


gabrielle_lawrence

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  • Posts: 353
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


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