1 answer

Suppose a firm faces the following costs: Quantity 0 1 2 3 4 5 6 7...

Question:

Suppose a firm faces the following costs:

Quantity 0 1 2 3 4 5 6 7 8
Total Cost 200 300 350 370 400 460 540 640 760

          

Which of the following prices is the lowest price at which a price-taking firm would decide to produce rather than shutdown?

Group of answer choices

a P = 60

b P = 100

c P = 20

d P = 80

e P = 40


Answers

Average quantity Total F C Variable cost haluable lest cast 200 200 2 Joo 300 200 2 350 150 170 3 370 loo 75.0 56.66 50.0 59.quantity Total F C Variable cost Average haluable est cast 0 200 Joo 300 200 2 350 150 170 7510 56.66 3 370 4 200 460 5 260 2total cost - fixed cost= total variable cost.

Total variable cost/output= average veriable cost.

On zero output level cost is fixed cost.

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