Question

A 26. Assume that in the short run a firm is producing 100 units of output, has average total costs of $200, and average variable costs of $150. The firm's total fixed costs are: A. $5,000. B. $500. C. $.50. D. 550. 27. In the short run the Sure-Screen T-Shirt Company is producing 500 units of output. Its average variable costs are $2.00 and its average fixed costs are 5.50. The firm's total costs: A. are $2.50 B. are $1,250 C. are $750. D. are $1,100. Average Costs (5) Output 28. As the firm in the above diagram expands from plant size # to plant size #3, it experiences: A. diminishing returns. B. economies of scale. C. diseconomies of scale. D. constant costs. P 29. In which of the following market structures is there mutual interdependence with respect to price-output policies? A. pure monopoly B. oligopoly C. monopolistic competition D. pure competition 30. An industry comprised of a very large number of sellers producing a standardized product is known as A. monopolistic competition. B. oligopoly. C. pure monopoly. D. pure competition

Answer 1

Ans26) the correct option is a) $ 5,000

Ans27) the correct option is b) are $ 1,250

Ans28) the correct option is b) economies of scale

Ans29) the correct option is b) oligopoly

Ans30) the correct option is d) pure competition