Assume a Firm Is Currently Producing 100 Units of Output,total

question 12

Multiple Choice

Assume a firm is currently producing 100 units of output,total fixed costs are $10,000,and average variable costs are $8.Based on this information we can conclude,with certainty,that the firm's:

• A)marginal costs are $8.
• B)total variable costs are $8000.
• C)average fixed costs are $2.
• D)total costs are $10,800.

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Definitions:

Coelom

A fluid-filled body cavity found in most multicellular animals, located between the intestinal canal and the body wall, and surrounded by mesoderm tissue.

Endoderm

The innermost layer of cells or tissue of an embryo in early development, giving rise to the lining of the gut and the associated structures.

Mesoderm

The middle layer of an embryo in early development, which will develop into muscles, bones, and circulatory systems.

Nervous System

In most invertebrates, consists of ganglia, sensory cells or sense organs, and networks of neurons. In vertebrates, consists of the brain, spinal cord, sense organs, and nerves; the body’s main regulatory system.