The average total costs of the firm as defined in standard economic theory

Related MCQs

• With fixed costs of Rs. 400, a firm has average total costs of Rs. 3 and average variable costs of Rs. 2.50. Its output is:
• Suppose that a firm produces 200,000 units a year and sells them all for Rs.10 each. The explicit costs of production are Rs.1,500,000 and the implicit costs of production are Rs. 300,000. The firm has an accounting profit of:
• In economic theory the costs of a firm
• When both average and total product are greater than zero, and marginal product equals average product, then total product:
• Marginal costs and average variable costs are equal when
• If the short-run average variable costs of production for a firm are rising, then this indicates that:
• If you know that with 8 units of output, average fixed cost is Rs. 12.50 and average variable cost is Rs. 81.25, then total cost at this output level is:
• If average variable costs fall as output grows:
• If a firm's revenues just cover all its opportunity costs, then:
• Micro economic theory studies how a free enterprise economy determines: