The Figure Given Below Shows the Revenue and Cost Curves

question 3

Multiple Choice

The figure given below shows the revenue and cost curves of a perfectly competitive firm. Figure 9.2 MC: Marginal cost curve
MR: Marginal revenue curve
ATC: Average-total-cost curve
AVC: Average-variable-cost curve
Refer to Figure 9.2.What is the firm's total fixed cost at the profit-maximizing output level?

• A)$400
• B)$300
• C)$600
• D)$450
• E)$500

---

Definitions:

Silverware

Utensils made from silver or other metals used for eating and serving food.

Test

An assessment intended to measure a test-taker's knowledge, skill, aptitude, physical fitness, or classification in many other topics.

Intellectual Aptitude

The capacity to understand complex ideas, engage in various forms of reasoning, and learn quickly and efficiently.

Creativity

The ability to produce original and valuable ideas or solve problems in novel ways.