Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If a firm has FC = $500, and TC = $1000 when output is 25 units. How much is the AVC per unit of output

image text in transcribed
If a firm has FC = $500, and TC = $1000 when output is 25 units. How much is the AVC per unit of output of 25 units of output? O a. $30 O b. $20 O c. $25 O d. $15 Suppose the supply function for sushi in Portland is given by P = 100 - Q + X - Y where P=price, Q=quantity, and X and Y are other factors that may affect supply. Which of the following are true? (Select all that apply.) O a. X could be the wage rate for sushi chefs O b. Y could be a tax ) c. Y could be the consumer's income O d. Y could be the price of ramen (something a sushi restaurant could produce instead of sushi) D e. X could be the price of rice (an input)

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_2

Step: 3

blur-text-image_3

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

Environmental And Natural Resource Economics

Authors: Thomas H Tietenberg, Lynne Lewis

10th Edition

1315523965, 9781315523965

More Books

Students also viewed these Economics questions

Question

Show that f (x, y) = 1/x, 0 Answered: 1 week ago

Answered: 1 week ago

Question

3. Im trying to point out what we need to do to make this happen

Answered: 1 week ago

Question

1. I try to create an image of the message

Answered: 1 week ago