The Table Below Provides Information on Output Per Month and Short-

question 14

Multiple Choice

The table below provides information on output per month and short- run costs for a firm producing outdoor wooden lounge chairs. $$\begin{array}{l}\begin{array} { | l | l | l | } \hline \text { TFC } & \text { TVC } & \text { TC } \\\hline 200 & 200 & 400 \\\hline 200 & 220 & 420 \\\hline 200 & 240 & 440 \\\hline 200 & 260 & 460 \\\hline 200 & 350 & 550 \\\hline 200 & 810 & 1010 \\\hline\end{array}\\\text { TABLE 7- } 5\end{array}$$
-Refer to Table 7- 5. At what level of output is this firm at its capacity?

• A) 10 chairs
• B) 20 chairs
• C) 30 chairs
• D) 25 chairs
• E) 15 chairs

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Definitions:

Cheques

A written, dated, and signed instrument that contains an unconditional order directing a bank to pay a definite sum of money to a payee.

Deposit

A sum of money placed or kept in a bank account, often to gain interest.

Balance

Balance refers to the amount of money in a financial account, or the equality between the sum of debits and credits in an account.

Account

A record or statement of financial expenditure and receipts relating to a particular period or purpose or the contractual arrangement under which an entity manages the funds of another.