Wenqin Is a Farmer,and in the Short Run She Produces

question 154

Multiple Choice

Wenqin is a farmer,and in the short run she produces 100 bushels of wheat.Her average total cost per bushel is $1.75,total revenue is $450,and total fixed costs are $100.Wenqin's:

• A)average fixed cost is $1.50.
• B)economic profit per bushel is $2.75.
• C)average variable cost is $1.25.
• D)economic profit is $250.