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Question
Table 13-3| Quantity | Price (dollars) | Total Revenue (dollars) | Total Variable Cost (dollars) | Total Cost (dollars) |
| 0 | $21 | $0 | $0 | $50 |
| 1 | 20 | 20 | 16 | 66 |
| 2 | 19 | 38 | 31 | 81 |
| 3 | 18 | 54 | 45 | 95 |
| 4 | 17 | 68 | 59 | 109 |
| 5 | 16 | 80 | 75 | 125 |
| 6 | 15 | 90 | 93 | 143 |
| 7 | 14 | 98 | 112 | 162 |
| 8 | 13 | 104 | 140 | 190 |
| 9 | 12 | 108 | 180 | 230 |
| 10 | 11 | 110 | 230 | 280 |
Table 13-3 shows the demand and cost schedules for a monopolistically competitive firm.
Refer to Table 13-3. What is its average variable cost of production at its optimal output level?
A) $0 (because its optimal output =0)
B) $15
C) $14.75
D) $29
Answer
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Related questions
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A) a only
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