Assessment ? 1 of 15 Questions 0 of 2 Attempts Costs and Profit Maximization Under Competition: End of Chapter Problem 2 Question 0% a. Use the variable cost (VC) information in the accompanying table to calculate average variable cost (AVC) and average cost 0 of 2 Attempts Macmillan Learning (AC). Assume fixed cost (FC) is $350. 3 Question 0% 0 of 2 Attempts O FC VC AVC AC 4 Question 0% 0 of 2 Attempts 10 $350 $100 $10.00 - $45.00 20 $350 $180 $9.00 - $26.50 - 5 Question 0% 0 of 2 Attempts 30 $350 $240 $8.00 $19.67 - 40 $350 $300 $7.50 $16.25 6 Question 0 of 2 Attempts 50 $350 $450 $9.00 - $16.00 - 7 Question 0% 60 $350 $630 $10.50 - $16.33 - of 2 Attempts 70 $350 $840 $12.00 - $17.00 8 Question 0% 0 of 2 Attempts ? b. Consider in which time frame, if any, the firm is willing to produce and sell output at each given price. Place each given priceAssessment ? # 1 of 15 Questions 0 of 2 Attempts b. Consider in which time frame, if any, the firm is willing to produce and sell output at each given price. Place each given price 2 Question 0% in the appropriate category. 0 of 2 Attempts Macmillan Learning 3 Question 0% Produce and sell output Produce and sell output Produce and sell output Produce and sell output 0 of 2 Attempts in both the short run in neither the short run in the long run, in the short run, and the long run nor the long run but not in the short run but not in the long run 4 Question 0% 0 of 2 Attempts 5 Question 0 of 2 Attempts 6 Question 0% 0 of 2 Attempts Answer Bank 7 Question 0% 0 of 2 Attempts No price exists for this scenario $15 $5 $18 8 Question 0% 0 of 2 Attempts