If TC = 321 + 55Q - 5Q2, then average total cost at Q = 10 is:

Refer to Figure 3-2. A decrease in the expected future price of the product would be represented by a movement from

A) A to B. B) B to A. C) S1 to S2. D) S2 to S1.

Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $7. What will be the value of total revenue when quantity sold equals 2?

A) $7 B) $14 C) $21 D) $16