Use the Following to Answer Questions: Table: Competitive Firm 2

question 146

Multiple Choice

Use the following to answer questions: Table: Competitive Firm 2 $$\begin{array} { c c c } \hline \text { Quantity (Units) } & \text { Total Revenue (\$) } & \text { Total Cost (\$) } \\\hline 0 & 0 & 30 \\1 & 80 & 50 \\2 & 160 & 80 \\3 & 240 & 120 \\4 & 320 & 170 \\5 & 400 & 230 \\6 & 480 & 300 \\7 & 560 & 380 \\8 & 640 & 470 \\\hline\end{array}$$
-(Table: Competitive Firm 2) Refer to the table that shows the revenue and cost schedules for a competitive firm. What is the average fixed cost at the profit-maximizing quantity?

• A) $54.30
• B) $4.28
• C) $50
• D) $80

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Definitions:

Marketing Evaluation

The process of assessing the effectiveness and impact of marketing strategies and activities.

Planned Goals

Targets or objectives that are determined in advance and towards which efforts are directed in a conscious and deliberate manner.

Corrective Actions

Steps taken to rectify problems, remove defects, or address failures to ensure they are not repeated.

Functional Groupings

The arrangement of jobs or tasks in an organization based on similar roles, skills, or processes.