Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

econ problems I need you help Question 18 You run a small business producing picture frames. This month your total cost of production is $10,000,

econ problems I need you help

image text in transcribedimage text in transcribed
Question 18 You run a small business producing picture frames. This month your total cost of production is $10,000, your variable cost of production is $5,000, and you produce 5,000 picture frames. It follows that O A. average cost is $3. O B. average variable cost is $2. O C. average fixed cost is $1. O D. average cost is $1.Question 19 The price of floppy computer discs decreases by 2096. As a result, the quantity demanded increases by 109%. The price elasticity of demand for floppy discs is O A. 0.5 OB. O OC. -2 O D. -0.5 OE. 2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Moral Controversies In American Politics

Authors: Raymond Tatalovich, Warren Tatalovich

4th Edition

1317464427, 9781317464426

More Books

Students also viewed these Economics questions

Question

Define aggregate planning.

Answered: 1 week ago

Question

Self-awareness is linked to the businesss results.

Answered: 1 week ago

Question

1. Too reflect on self-management

Answered: 1 week ago

Question

Food supply

Answered: 1 week ago