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QUESTION 17 Let's assume that Ferdinandssels 100 scoops of ice cream...
QUESTION 17 Let's assume that Ferdinandssels 100 scoops of ice cream every day. We know that each scoop is sold for $3. the average variable cost is 12 50, the marginal cost is 53and the werage total cost is $3.00. Based on this Information, what do we know? The testing accounting prots O The firm is not producing according to the optimal output The test breaking even The tom is making economic profis QUESTION 18 Cartels with many members are unstable because every member recognizes that there is a state O does not have to worry about Os producing a relatively homogeneous product innich erby barriers are so low has an incentive to che QUESTION 19 Let's assume you've found the price elasticity of demand for potatoes is 0.85. What type of good is this? posve siped O price unt