MC$10ATCAVC65.504.502100300QuantityFigure 17. Refer to Figure 1. At an output of 100 units, total fixed costs equalA. $550В. $200С. $450D. $1,0008. Refer to Figure 1. If the market price is $10, the firm's profits areA. $0В. $450C. $1,200D. $3,000

A competitive firm experiences a perfectly elastic demand curve for its own good. This is because it…

MC 2$ 10 .ATC AVC 6 5.50 4.50 2 100 300 Quantity Figure 1 7. Refer to Figure 1. At an output of 100 units, total fixed costs equal A. $550 В. $200 C. $450 D. $1,000 8. Refer to Figure 1. If the market price is $10, the firm's profits are A. $0 В. S450 C. $1,200 D. $3,000

MC 2$ 10 .ATC AVC 6 5.50 4.50 2 100 300 Quantity Figure 1 7. Refer to Figure 1. At an output of 100 units, total fixed costs equal A. $550 В. $200 C. $450 D. $1,000 8. Refer to Figure 1. If the market price is $10, the firm's profits are A. $0 В. S450 C. $1,200 D. $3,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

MC
$
10
ATC
AVC
6
5.50
4.50
2
100
300
Quantity
Figure 1
7. Refer to Figure 1. At an output of 100 units, total fixed costs equal
A. $550
В. $200
С. $450
D. $1,000
8. Refer to Figure 1. If the market price is $10, the firm's profits are
A. $0
В. $450
C. $1,200
D. $3,000

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