A Perfectly Competitive Firm Sells 15 Units of Output at the Going

question 2

Multiple Choice

A perfectly competitive firm sells 15 units of output at the going market price of $10.Suppose its average fixed cost is $15 and its average variable cost is $8.Its contribution margin (i.e.,contribution to fixed cost) is

• A)$30.
• B)$150.
• C)$105.
• D)Cannot be determined from the above information

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Definitions:

Color-blind

A condition characterized by the inability to perceive colors in a normal way, often due to genetic factors affecting the retinal cones.

Female Children

Refers to young human beings who are biologically female, often considered to be under the age of adolescence.

Heterozygous

A genetic condition where an individual has two different alleles of a gene.

Barr Bodies

Inactivated X chromosomes found in the nuclei of female cells, visible as dense bodies, used to equalize gene expression between sexes.