1//// Use the above figure. The ATC at output 10 is A) $30.00 B) $10.00 C) $2.00

Question

1//// Use the above figure. The ATC at output 10 is
A) $30.00
B) $10.00
C) $2.00
D) $3.00


2//// Use the above figure. The AFC at output level 10 is
A) $3
B) $2
C) $1
D) $10

3//// In the above figure, point B is called
A) the maximum efficient scale
B) the minimum efficient scale
C) the planning horizon
D) the point of diminishing marginal product

Use the above figure. The ATC at output 10 is $30.00 $10.00 $2.00 $3.00 Use the above figure. The AFC at output level 10 is $3 $2 $1 $10 In the above figure, point B is called the maxi mu m efficient scale the mini mu m efficient scale the planning horizon the point of diminishing marginal product

Explanation / Answer

1. D 3,00

2. C

AFC = (30-20)/10 = 1

3.B

the minimum efficient scale

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