Homework Answers
Ans. True, 350 is equal to fixed cost.
when X=0, TC is equal to 350 that incurred in the production regardless of the output level. like rent of land where production takes place regardless of the no. of units produced or not
Ans. Match
1. the break-even point is total cost = total revenue, profit equals to zero
2.the loss region is when total cost> total profit, total cost - total cost = loss
3. A profit is attained when total cost < total revenue, total revenue - total cost = profit
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