Author Question: If we know average total cost and the amount of output, then we can always calculate total cost by (Read 35 times)

Pineappleeh · **on:** Apr 19, 2019

Question 1

Refer to the information provided in Table 8.3 below to answer the question(s) that follow.

Refer to Table 8.3. If the firm is in a perfectly competitive industry with a market price of $30 per unit, the firm will produce ________ units and earn a profit of ________.

◦ three; $20
◦ four; $20
◦ four; -$20
◦ five; $30

Question 2

If we know average total cost and the amount of output, then we can always calculate total cost by

◦ adding average total cost and the amount of output.
◦ subtracting the amount of output from average total cost.
◦ multiplying average total cost by the amount of output.
◦ dividing average total cost by the amount of output.

frre432 · **Reply #1 on:** Apr 19, 2019

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 56% of students answer this correctly

Pineappleeh · **Reply #2 on:** Apr 19, 2019

Thanks

frre432 · **Reply #3 on:** Apr 19, 2019

Welcome