Assume that in the short run a firm is producing 100 units of output, has average total costs of $200, and has average variable costs of $150. The firm's total fixed costs areMultiple Choice$5,000.$500.$0.50.$50.

If you know that when a firm produces 10 units of output, total cost is $1,030 and average fixed cost is $10, then total variable cost isMultiple Choice$104.$930.$1,040.$1,130.

A firm has fixed costs of $400, average total costs of $3 and average variable costs of $2.50. The output of the firm is _____________.

The following table shows cost data for a perfectly competitive firm. Output Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost1 $500 $120 $620 $1202 250 108 358 953 167 97 263 754 125 88 213 605 100 81 181 556 83 78 161 607 71 78 149 808 63 81 144 1059 56 87 143 13510 50 96 146 170 If the product price is $105, the profit-maximizing output isMultiple Choice0 units.5 units.8 units.9 units.

In the short run, if a firm operates, it earns a profit of $500. The fixed costs of the firm are $100. This firm has a producer surplus of

The short-run marginal and average variable cost curves for a competitive firm are given by MC = 2+2q and AVC = 2+q. The profit-maximizing level of output for a firm is 4 and its total fixed cost is $18. Which of the following must be true about the firm? Group of answer choices The firm is charging a price of $4 and covering its average variable cost, hence it should continue operating in the short-run. The firm is charging $10 and will remain in the industry in the short-run; but it is not covering its total costs and will consider leaving the industry in the long run. The firm is charging a price of $4 and making a short-run loss, hence it should shut down immediately. The firm is charging a price of $10 and making a zero profit, hence it should shut down eventually. The firm is charging a price of $10 and making a positive profit, hence it will remain in the industry in the long-run.