QUESTION 9 Consider a firm with the following cost structure: Quantity of Output FC VC TC ...

Question

Question

QUESTION 9

(b) Cost (S/week) Cost (S/week) 300 250 300 250- 2007 - - - - 200+---- 150+ - --- - N Quantity of output/week Quantity of out

Which panel below represents the cost curves of the firm? Panel a) Panel b) Panel c) Panel d)

Answer 1

Answer #1

TC 100 150 200 100 100 250 100 150 Too TC = Vc = FC tuc TC - FC 2007 1501- 100% TFC The panel (a) is correct.

Answer 2

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