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Suppose a firm produces 20 units of output. At that level, ATC is 70, P = 50, MR and MC = 30. The firm is
Suppose a firm produces 20 units of output. At that level, ATC is 70,P= 50, MR and MC = 30. The firm is experiencing a loss of:
- A.$600.
- B.$400.
- C.$1,000.
- D.$1,400.
The average total cost of producing cell phones in a factory is $15 at the current output level of 100 units per week. If fixed cost is $1,200 per week:
- A.average fixed cost is $10.
- B.total cost is $1500.
- C.total cost is $3,200.
- D.variable cost is $2,000.
- E.average variable cost is $80.
The most important source of oligopoly in an industry is:
- A.technological inferiority.
- B.ownership of plentiful resources.
- C.government regulation.
- D.economies of scale.
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