The Long-Run Total Cost Schedule of a Perfectly Competitive Firm

question 52

Multiple Choice

The long-run total cost schedule of a perfectly competitive firm that produces blueberries is as follows:
TABLE 8-2

-Refer to Table 8-2. What is the average total cost of producing 6000 kilograms of blueberries in the long run?

• A) $2
• B) $2.20
• C) $2.50
• D) $2.75

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Definitions:

Due Date

the specified date by which a payment, task, or project is to be completed or submitted.

Delivery Charge

A fee imposed for the service of delivering goods or services to a specified location, typically distinct from shipping charges by the directness of the service.

Purchasing Agent

An individual or entity responsible for buying goods and services for a company or organization.

Cash Discounts

A reduction in the invoice price offered by sellers to buyers as an incentive for early payment.