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Home / Questions / In Exhibit H-3 the total cost of 600 units of output is a.\$2,800 b.\$3,200 c.\$3,800 d

# In Exhibit H-3 the total cost of 600 units of output is a.\$2,800 b.\$3,200 c.\$3,800 d

In Exhibit H-3 the total cost of 600 units of output is

a.\$2,800

b.\$3,200

c.\$3,800

d.\$4,600

e.\$5,000

22.              In Exhibit H-3 the average variable cost of 300 units of output is

a.\$3.50

b.\$2.80

c.\$2.50

d.\$2.00

e.\$1.80

23.              In Exhibit H-3 the average total cost of 400 units of output is

a.\$6.20

b.\$6.10

c.\$6.00

d.\$5.90

e.\$6.30

24.              In Exhibit H-3 the average total cost of 600 units of output is

a.\$6.60

b.\$6.80

c.\$7.00

d.\$7.30

e.\$7.70

25.              In Exhibit H-3 the marginal cost of the five hundredth unit of output is

a.\$6

b.\$7

c.\$8

d.\$9

e.\$11

26.              In Exhibit H-3 the

a.total fixed cost curve is positively sloped

b.average fixed cost reaches a minimum at 400 units

c.total variable cost curve is U-shaped

d.average total cost equals marginal cost at 300 units

e.marginal cost equals average variable cost between 300 and 400 units

27.              When graphed, total fixed cost will

a.slope upward to the right at a constant positive slope

b.first decrease and then increase

c.first increase and then decrease

d.slope down forever

e.be a horizontal line

28.              When graphed, total variable cost must

a.first slope down and then slope up

b.always have a positive slope

c.always have a negative slope

d.first slope up and then slope down

e.be a horizontal line

29.              The total cost of production equals

a.average total cost + average variable cost

b.average total cost + average fixed cost

c.average variable cost + average fixed cost

d.total fixed cost + total variable cost

e.marginal cost + total variable cost

30.              When graphed, the total cost of production will

a.intercept the vertical axis at the level of fixed cost

b.first slope down, then slope up

c.slope down forever

d.first slope up, then slope down

e.be a horizontal line

Dec 09 2019 View more View Less Get Solution