A firm has an average total cost of $50.If it sells 20 units of its product at $80 each,what is its profit?
A) $30
B) $600
C) $1,000
D) $1,600
Correct Answer:
Verified
Q102: Average fixed costs for a firm are
Q103: If price is greater than average total
Q104: A firm sells 30 units of its
Q105: In a perfectly competitive market,_.
A) price is
Q106: A firm sells 20 units of a
Q108: Marginal revenue is _.
A) the change in
Q109: The equilibrium price in a market corresponds
Q110: The following table shows the output and
Q111: For a perfectly competitive firm,profit maximization requires
Q112: Which of the following relationships correctly identifies
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