Q1) If output is q0, we do not have enough information to determine the size of Fixed Costs.
a.True
b.False
Q2)
At price P1, the profit maximizing firm will have zero variable costs in the Short Run.
a. True
b. False
c. Not enough information provided
Homework Answers
a) false
Fixed cost is the difference between the variable and the total cost, we have the total cost and the variable cost, with that we can get the fixed cost.
b) False,
At this price the firm will be producing some goods and that will lead to a firm having some variable cost.
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