Assume the following total cost schedule for a perfectly competitive firm Output TVC (S) TFC (S) 100 40 100 2 70 100 3 120 100 4 180 100 250 100 6. 330 100 TABLE 9-1 Refer to Table 9-1. If the firm is producing at an output level of 6 units. the ATC is and the AVC is Select one

Assume the following total cost schedule for a perfectly competitive firm Output TVC (S) TFC (S) 100 40 100 2 70 100 3 120 100 4 180 100 250 100 6. 330 100 TABLE 9-1 Refer to Table 9-1. If the firm is producing at an output level of 6 units. the ATC is and the AVC is Select one

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter8: Perefect Competition

Section: Chapter Questions

Problem 5SQP

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Question

Assume the following total cost schedule for a perfectly competitive firm.
Output
TVC (S)
TFC ($)
100
1
40
100
2
70
100
3
120
100
180
100
250
100
6.
330
100
TABLE 9-1
Refer to Table 9-1. If the firm is producing at an output level of 6 units, the ATC is
and the AVC is
Select one:
a. $71.67: $55
b. $38.33: $16.67
C $55: $16.67
d. $55: S80
e. $80: $55

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