micro economics

 

question 6 

The total cost of producing 25 tons of butter is $40000. If average variable cost is $565, then what is the firm's average fixed cost? (enter answer as just a number, no commas, dollar signs, or the like)

Your Answer:Question 6 options:Answer 

 

Question 4 (1 point)

Lisa quit her $30000-per-year job to start her own economics consulting firm. At the end of her first year of operation, her total revenues were $111000. Her total explicit costs were $30000. What was her economic profit for the year?  (Give response as a number, no commas, decimals, dollar signs, or otherwise.)

Your Answer:Question 4 options:Answer 

 

Question 5 (1 point)

The average total cost of producing electronic calculators in a factory is $24 at the current output level of 220 units per week. If fixed cost is $705 per week, then what is the firm's variable cost? (enter answer as just a number, no commas, dollar signs, or the like)

Your Answer:Question 5 options:Answer