Question
Hello, I have difficulty with the following exercise I dont understand, thank you for your help: 43.Economic profit is typically higher than accounting profit. Select
Hello, I have difficulty with the following exercise I dont understand, thank you for your help:
43.Economic profit is typically higher than accounting profit.
Select one:
True
False
45.All costs are variable in the short run.
Select one:
True
False
46.Average total cost reaches a minimum where it intersects average variable cost.
Select one:
True
False
50.Average total cost + average variable cost = Average fixe cost
Select one:
True
False
51.
Quantity (Units) | Total cost ($/unit) |
0 | 100 |
1 | 110 |
2 | 125 |
3 | 150 |
4 | 220 |
Use the above data for Bob's Bootery to answer the following question.
The total variable cost when Q= 3 units is:
Select one:
a.$0.
b.$75.
c.$50.
d.$150.
e.$25.
52.
Quantity (Units) | Total cost ($/unit) |
0 | 100 |
1 | 110 |
2 | 125 |
3 | 150 |
4 | 220 |
Use the above data for Bob's Bootery to answer the following question:
The total fixed cost is:
Select one:
a.$0.
b.$115.
c.$125.
d.$10.
e.$100.
58.
Quantity (Units) | Total cost ($/unit) |
0 | 100 |
1 | 110 |
2 | 125 |
3 | 150 |
4 | 220 |
Use the above data for Bob's Bootery to answer the following question:
The marginal cost of the second unit of output is:
Select one:
a.$10.
b.$100.
c.$0.
d.$25.
e.$15.
60.
Quantity (Units) | Total cost ($/unit) |
0 | 100 |
1 | 110 |
2 | 125 |
3 | 150 |
4 | 220 |
Use the above data for Bob's Bootery to answer the following question:
The average total cost when Q = 3 units is:
Select one:
a.$90.00.
b.$8.33
c.$150.00.
d.$25.00.
e.$50.00.
61.
Quantity (Units) | Total cost ($/unit) |
0 | 100 |
1 | 110 |
2 | 125 |
3 | 150 |
4 | 220 |
Use the above data for Bob's Bootery to answer the following question:
The average variable cost when Q = 2units is:
Select one:
a.$62.50.
b.$10.00
c.$12.50.
d.$125.00.
e.$25.00.
64.
Quantity (Units) | Total cost ($/unit) |
0 | 100 |
1 | 110 |
2 | 125 |
3 | 150 |
4 | 220 |
Use the above data for Bob's Bootery to answer the following question:
The average fixed cost when Q = 3 units is:
Select one:
a.$25.00.
b.$150.00.
c.$33.33.
d.$50.00.
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