Author Question: A fishing boat owner brings 50,000 fish to market and the market price is 4 per fish. Her average ... (Read 110 times)

JMatthes · **on:** Jun 30, 2018

A fishing boat owner brings 50,000 fish to market and the market price is 4 per fish. Her average variable cost of 50,000 fish is 1 and the fixed cost of the boat is 100,000 . What is her profit per fish?
a. 1.
b. 500.
c. 5,000.
d. 25,000.
e. 500,000.

Question 2

A perfectly elastic supply curve is expressed graphically as a(n):
a. downward sloping line or curve. b. upward sloping line or curve.
c. vertical line. d. horizontal line.