Multiple Choice
Consider the following data: equilibrium price = $9,quantity of output produced = 1,000 units,average total cost = $7,and average variable cost $5.Given this,total revenue is __________,total cost is __________,and total fixed cost is __________.
A) $6,000; $8,000; $1,000
B) $9,000; $7,000; $5,000
C) $10,000; $8,000; $3,000
D) $9,000; $7,000; $2,000
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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