37. At what level of output will average variable cost equal average total cost? a. when...

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37. At what level of output will average variable cost equal average total cost? a. when marginal cost equals average variabl

business economics

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Answer 1

Answer #1

37) This does not occur as long as fixed costs are positive

option(D)

38) Setting MC=MR, the firm will produce 50 units ar p=30 where ATC = 20

profits = (30-20)*50 = 500

option(D)

39) The monopoly faces a downward-sloping demand curve

option(D)

40) Public goods are nonexcludable so they are subjected to free-riding problem

option(C)

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Answer 2

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