Answer the Question on the Basis of the Following Cost

question 99

Multiple Choice

Answer the question on the basis of the following cost data for a firm that is selling in a purely competitive market: $\begin{array}{c}\begin{array}{c}\\Total\\Product\\\hline1 \\2 \\3 \\4 \\5 \\6 \\7 \\8 \\9 \\10 \\11 \\12\end{array}\begin{array}{lll}Average\\Fixed\\Cost\\\hline \$ 100.00 \\ 50.00 \\ 33.33 \\ 25.00 \\ 20.00 \\16.67\\ 14.29 \\ 12.50 \\ 11.11 \\ 10.00 \\ 9.09 \\ 8.33 \\\end{array}\begin{array}{lll}Average\\Variable\\Cost\\\hline \$ 17.00 \\ 16.00 \\ 15.00 \\ 14.25 \\ 14.00 \\ 14.00 \\15.71\\ 17.50 \\19.44 \\ 21.60 \\ 24.00 \\ 26.67 \end{array}\begin{array}{ccc}\text { Average }\\\text { Total } &&\text { Marginal }\\\text { Cost }&&\text { Cost }\\\hline \$ 117.00 & & \$ 17 \\66.00 & & 15 \\48.33 & & 13 \\39.25 & & 12 \\34.00 & & 13 \\30.67 & & 14 \\30.00 & & 26 \\30.00 & & 30 \\30.55 & & 35 \\31.60 & & 41 \\33.09 & & 48 \\35.00 & & 56\end{array}\end{array}$ Refer to the data.If the market price for the firm's product is $12,the competitive firm should produce:

• A) 4 units at a loss of $109.
• B) 4 units at an economic profit of $31.75.
• C) 8 units at a loss of $48.80.
• D) zero units at a loss of $100.

Know how to manipulate form properties to alter data display and interaction.

Recognize the steps for designing a user-friendly form interface including the use of subforms and images.

Understand the functionality and application of command buttons and macros in forms.

Learn how to use combo boxes and list boxes for data entry and selection on forms.

---

Definitions:

Sunburst Chart

A type of visualization that displays hierarchical data as layered rings, each layer representing a level in the hierarchy.

Scatter Chart

A type of graph used in statistics that displays values for typically two variables for a set of data.

Trendline

A graphed line in statistical data visualizations predicting future trends based on past or current data patterns.

Number Format

A system or standard for expressing numbers, often within software or mathematical contexts, to specify their appearance or structure, such as decimal or hexadecimal.