Questions 47 to 51 are based on the following diagram Tc curve 250 TR curve...

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**Questions 47 to 51 are based on the following diagram ** Tc curve 250 TR curve 245 das K TR Tc 310 190 183 N IR IH a 4 9 10

business economics

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Answer 1

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47. It is where TC = TR, which is at two points Q=4 and Q=12. Right answer is C.

48. C. $42 is the right answer (revenue = 225, cost = 183)

49. Fixed cost = $22 (it is the cost where Q=0). Quantity at profit maximizing point = 9. Hence average fixed cost for profit maximizing output = 22/9 = $2.44 (Option D)

50. Losses are when TR < TC. This happens when Q <4 and when Q>12. Right option is D.

51. Cost at profit maximizing output = 183. Fixed cost = 22. Hence variable cost = 161. Average variable cost = 161/9 = $17.89 (Option B is the right answer)

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Questions 47 to 51 are based on the following diagram Tc curve 250 TR curve...

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