Maurice Tutor

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Category > Management Posted 12 Apr 2018 My Price 4.00

total variable cost

The following table shows the total output, total revenue, total variable cost, and total fixed cost of a firm. What level of output should the firm produce? Should it shut down? Should it exit the industry? Explain.

 

Output Total revenue Total variable cost Total fixed cost
1 $1,000 $1,500 $500
2 $2,000 $2,000 $500
3 $3,000 $2,600 $500
4 $4,000 $3,900 $500
5 $5,000 $5,000 $500

 

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Apr 2018 01:04 PM My Price 4.00

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