Suppose a Firm Has an Output of 10,000 Cans and a Total

question 122

Multiple Choice

Suppose a firm has an output of 10,000 cans and a total fixed cost of $2,000. At an output of 5,000 the difference between the total cost and the total variable cost is:

• A) b and c.
• B) $0.40.
• C) the average fixed cost.
• D) $2,000.
• E) $0.20.

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Definitions:

Rawls

Pertains to John Rawls, an American political philosopher known for his work in moral and political philosophy, especially in the theory of justice as fairness.

Rawls's Model

is a theoretical framework for justice suggested by philosopher John Rawls, emphasizing fairness and equality through the principles of liberty and difference.

Persons

Individuals considered as separate and distinct entities, particularly in legal and philosophical contexts, with rights and responsibilities.

Agreement

A mutual understanding or arrangement between two or more parties, often formalized by a contract.