Table 13-3 Table 13-3 Shows the Demand and Cost Schedules for a and Cost

question 157

Multiple Choice

Table 13-3

Table 13-3 shows the demand and cost schedules for a monopolistically competitive firm.
-Refer to Table 13-3.What is its average variable cost of production at its optimal output level?

• A)$0 (because its optimal output = 0)
• B)$15
• C)$14.75
• D)$29

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Definitions:

Nonevolving Population

A theoretical population in which allele frequencies do not change over time, effectively not undergoing evolution.

Speciation

Origin of new species due to the evolutionary process of descent with modification.

Genetic Drift

A mechanism of evolution that involves random changes in the frequency of alleles within a population over time.

Allele

Alternative form of a gene; alleles occur at the same locus on homologous chromosomes.