According to the table below, what is the total cost of producing 90 units of output?

QFCVC

010000

201000350

501000760

9010001050

12510001400

14510001750

16010002180

Given the following table, how many workers should be hired to maximize profits?

LABORMPVMPWAGE

18$32$100

232$128$100

316$164$100

4-1$-4$100

5-12$-48$100

Which of the following statements isincorrect?

A. Fixed costs could be positive when sunk costs are zero

B.Fixed costs are always greater than sunk costs

C.Sunk costs are those costs that are forever lost after they have been paid

D.Fixed costs do not vary with output

Which of the following is(are) basic feature(s) of a perfectly competitive industry?

A. All of the above

B. A single competitive firm is a price taker.

C.perfectly elastic demand function

D. Buyers and sellers have perfect information

Which of the following isNOTa measure of productivity?

A.Input-output ratio

B.Averageadvertising

C.Marginal product

D.Total product

Question 84 Points

The source(s) of monopoly power for a monopoly may be:

A. All of the statements associated with this question are correct

B. patents.

C. economies of scope

D. economies of scale