QUESTION 14 The table below depicts the costs experienced by a firm in a perfectly competitive industry The average variable cost of 12 units is Quantity Total Cost Average Cost Marginal Cost Fixed Cost 20 10 11 12 209 13 100 between $14.01 and $16.00 less than $14.00 greater than $20.00 between $16.01 and $18.00 between $18,01 and $20.00 QUESTION 15 The table below depicts the costs experienced by a firm in a perfectly competitive industry. If the market price = $13, the firm will Quantity Total Cost Average Cost Marginal Cost Fixed Cost 20 10 11 12 209 13 100 make a profit of greater than $50 QUESTION 15 The table below depicts the costs experienced bya firm in a perfectly competitive industry. If the market price = 513, the firm will Quantity Total Cont Average Cost Marginal Cost Fixed Cost 10 20 11 209 12 make a profit of greater than $50 o break even (profit - $0) o make a loss between $0.01 and $50 o make a profit between $0.01 and $50 make a loss of greater than $50 100 QUESTION 14 The table below depicts the costs experienced by a firm in a perfectly competitive industry The average variable cost of 12 units is Quantity Total Cost Average Cost Marginal Cost Fixed Cost 20 10 11 12 209 13 100 between $14.01 and $16.00 less than $14.00 greater than $20.00 between $16.01 and $18.00 between $18,01 and $20.00 QUESTION 15 The table below depicts the costs experienced by a firm in a perfectly competitive industry. If the market price = $13, the firm will Quantity Total Cost Average Cost Marginal Cost Fixed Cost 20 10 11 12 209 13 100 make a profit of greater than $50 QUESTION 15 The table below depicts the costs experienced bya firm in a perfectly competitive industry. If the market price = 513, the firm will Quantity Total Cont Average Cost Marginal Cost Fixed Cost 10 20 11 209 12 make a profit of greater than $50 o break even (profit - $0) o make a loss between $0.01 and $50 o make a profit between $0.01 and $50 make a loss of greater than $50 100
