Homework Answers
13) The firm is operating in the short run as there are fixed cost
option(A)
14) ATC of producing 20 units = (15+22)/20 = 1.85
option(A)
15) MC = change in TC/Change in Q
TC of 30 units = 57
TC of 40 units = 15+65 = 80
MC = 80-57/10 = 2.3
option(C)
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