Table 71 Table 71 Shows the Short-Run Cost Data of a Perfectly Competitive

question 197

Multiple Choice

Table 7.1
$$\begin{array} { | c | c | c | } \hline \text { Quantity } & \begin{array} { c } \text { Total Cost } \\\text { (dollars) }\end{array} & \begin{array} { c } \text { Variable Cost } \\\text { (dollars) }\end{array} \\\hline 0 & \$ 1000 & \$ 0 \\\hline 100 & 1360 & 360 \\\hline 200 & 1560 & 560 \\\hline 300 & 1960 & 960 \\\hline 400 & 2760 & 1760 \\\hline 500 & 4000 & 3000 \\\hline 600 & 5800 & 4800 \\\hline\end{array}$$ Table 7.1 shows the short-run cost data of a perfectly competitive firm that produces plastic camera cases. Assume that output can only be increased in batches of 100 units.
-Refer to Table 7.1.The firm will not produce in the short run if the output price falls below

• A) $8.
• B) $4.
• C) $3.20.
• D) $2.80.

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Definitions:

Pulmonary Vein

A large blood vessel that carries oxygenated blood from the lungs to the left atrium of the heart.

Pulmonary Artery

A major artery in the body that transports deoxygenated blood from the heart to the lungs for oxygenation.

Left Atrium

One of the four chambers of the heart, receiving oxygenated blood from the lungs and pumping it into the left ventricle.

Left Common Carotid

The artery located on the left side of the body that supplies blood to the head and neck.