A fishing boat owner brings 500 fish to market and the market price is $4 per...
A fishing boat owner brings 500 fish to market and the market price is $4 per fish. Her average variable cost of 500 fish is $1 and the fixed cost of the boat is $2,000. What is her profit per fish?
Group of answer choices
A. $1.
B. -$1.
C. $5,000.
D. $25,000.
E. $500,000.
Homework Answers
Answer
average fixed cost =total fixed cost /quantity
=2000/500
=4
average total cost =average varible cost +average fixed costs
=1+4=5
Profit per unit =price -average total costs
=4-5
-$1
the profit per fish is -$1
Option B
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