Author Question: Assume the following total cost schedule for a perfectly competitive firm.OutputTVC ($)TFC ($)0 ... (Read 160 times)

mt05945 · **on:** Oct 12, 2022

Question 1

Assume the following total cost schedule for a perfectly competitive firm.

Output	TVC ($)	TFC ($)
0	0	100
1	40	100
2	70	100
3	120	100
4	180	100
5	250	100
6	330	100

TABLE 9-1

Refer to Table 9-1. If the firm is producing at an output level of 4 units, the ATC is ________ and the AVC is ________.
◦ $70; $35
◦ $180; $100
◦ $25; $45
◦ $280; $180
◦ $70; $45

Question 2

Assume the following total cost schedule for a perfectly competitive firm.

Output	TVC ($)	TFC ($)
0	0	100
1	40	100
2	70	100
3	120	100
4	180	100
5	250	100
6	330	100

TABLE 9-1

Refer to Table 9-1. If the firm is producing at an output level of 6 units, the ATC is ________ and the AVC is ________.
◦ $55; $80
◦ $71.67; $55
◦ $80; $55
◦ $55; $16.67
◦ $38.33; $16.67

mamboz · **Reply #1 on:** Oct 12, 2022

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 25% of students answer this correctly