Consider the following data: equilibrium price = $15, quantity of output produced = 10,000 units, average total cost = $12, and average variable cost $7. Given this data, total revenue is __________, total cost is __________, and total fixed cost is __________.
A) $15,000; $12,000; $7,000
B) $150,000; $120,000; $70,000
C) $15,000; $12,000; $5,000
D) $150,000; $120,000; $50,000
Correct Answer:
Verified
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Q46: Exhibit 22-3 Q47: Exhibit 22-4 Q49: Consider the following data: equilibrium price = Q52: Exhibit 22-2 Q53: Exhibit 22-3 Q55: A perfectly competitive firm should increase its Q55: Exhibit 22-4 Q56: Consider the following data: equilibrium price = Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()
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