Question
A certain firm produces and sells staplers.Last year, it produced 7,000 staplers and sold each stapler for $9.In producing the 7,000 staplers, it incurred variable
A certain firm produces and sells staplers.Last year, it produced 7,000 staplers and sold each stapler for $9.In producing the 7,000 staplers, it incurred variable costs of $25,000 and a total cost of $45,000.
1.The firm's fixed costs amounted to
a.$7,000
b.$20,000
c.$21,000
d.$45,000
e.$63,000
2.In producing the 7,000 staplers, the firm's average fixed cost was
a.$1.19
b.$1.32
c.$2.21
d.$2.43
e.$2.86
3.In producing the 7,000 staplers, the firm's average variable cost was
a.$2.43
b.$3.57
c.$5.25
d.$6.99
e.$7.21
4.In producing the 7,000 staplers, the firm's average total cost was
a.$2.29
b.$5.17
c.$6.29
d.$6.43
e.$7.17
5.In producing the 7,000 staplers, the firm's total profit was
a.-$9,000
b.-$1,000
c.$8,000
d.$11,000
e.$17,000
f.$18,000
g.$21,000
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