The information below applies to a competitive firm that sells its output for $40 per unit. • When the firm produces and sells 150 units of output, its average total cost is $24.50. • When the firm produces and sells 151 units of output, its average total cost is $24.55.   Refer to Scenario 14-2 . Let Q represent the quantity of output. Which of the following magnitudes has the same value at Q = 150 and at Q = 151?   a. Total revenue     b. Average fixed cost     c. Total cost     d. Average revenue

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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The information below applies to a competitive firm that sells its output for $40 per unit.

• When the firm produces and sells 150 units of output, its average total cost is $24.50.

• When the firm produces and sells 151 units of output, its average total cost is $24.55.

 

Refer to Scenario 14-2 . Let Q represent the quantity of output. Which of the following magnitudes has the same value at Q = 150 and at Q = 151?

  a. Total revenue  
  b. Average fixed cost  
  c. Total cost  
 

d. Average revenue

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