Table 7-A
Revenue and Cost Data for a Perfectly Competitive

question 170

Multiple Choice

Table 7-A
Revenue and Cost Data for a Perfectly Competitive Firm
$$\begin{array} { c c c c c c c } \text { Daily } & \text { Price } & \text { Total } & \text { TFC } & \text { TVC } & \text { TC } & \text { Profit } \\\text { Output } && \text { Revenue } & & & & \\0 & \$ 20 & \$0 & V&\$0& \$ 50 & - \$ 50 \\1 & \$ 20 & \$ 20 & \$ 50 & \$ 12 & \$ W & - \$ 42 \\2 & \mathbf { X } & \$ 40 & \$ 50 & Y & \$ 78 & - \$ 38 \\3 & \$ 20 & \$ 60 & \$ 50 & \$ 45 & \$ 95 & Z\end{array}$$
-Refer to Table 7-A.The AFC of producing two units of output equals:

• A)$0.
• B)$25.
• C)$50.
• D)$100.
• E)none of the above.

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Definitions:

Tympanic Membrane

Also known as the eardrum, a thin membrane that separates the outer ear from the middle ear and vibrates in response to sound waves.

Pinna

The visible part of the ear that is outside the head, its primary function is to capture sound waves and funnel them into the ear canal.

Auditory Ossicles

Three small bones in the middle ear (the malleus, incus, and stapes) that transmit sound vibrations from the ear drum to the inner ear.

Vestibule

An entrance or enclosed area at the entrance of a building, or in the context of anatomy, a space or cavity at the beginning of a canal.