Scenario 13-16
A certain firm produces and sells staplers. Last year, it produced 7,000 staplers and sold each stapler for $6. In producing the 7,000 staplers, it incurred variable costs of $28,000 and a total cost of $45,000.
-Refer to Scenario 13-16.In producing the 7,000 staplers,the firm's average total cost was
A) $2.43.
B) $4.00.
C) $6.00.
D) $6.43.
Correct Answer:
Verified
Q290: A firm has a fixed cost of
Q294: Marginal cost is equal to
A)TC/Q.
B)ΔATC/Q.
C)ΔTC/ΔQ.
D)ΔQ/ΔTC.
Q295: Marginal cost tells us the
A)value of all
Q298: The amount by which total cost rises
Q304: Scenario 13-15
Farmer Jack is a watermelon farmer.
Q310: A firm has a fixed cost of
Q310: Scenario 13-16
A certain firm produces and sells
Q311: Scenario 13-15
Farmer Jack is a watermelon farmer.
Q312: Scenario 13-16
A certain firm produces and sells
Q358: Marginal cost equals
(i)change in total cost divided
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