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Author Question: Based on the production and revenue data in the above table, if the wage rate is 35 per worker, how ... (Read 130 times)

corkyiscool3328

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on: Jun 29, 2018
Based on the production and revenue data in the above table, if the wage rate is 35 per worker, how many workers will be hired?
 
  A) 5
  B) 4
  C) 3
  D) 2

Question 2

Which of the following statements is TRUE?
 
  A) Average fixed cost equals average total cost plus average variable cost.
  B) Average variable cost is always greater than average fixed cost.
  C) Average fixed cost equals total fixed cost divided by total output.
  D) Average total cost always falls as output increases.


bhavsar

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

B

Answer to Question 2

C


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