The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the average total cost?
A) 500
B) 5Q
C) 5
D) 5 + (200/Q)
E) none of the above
D
Economics
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All monopolies exist because of
a. firms' desire to maximize profits. b. failure of antitrust laws. c. barriers to entry. d. natural selection.
Economics
The introduction of new technology causes
a. the production function to shift upward b. real output to decrease c. a decrease in the standard of living d. decreases in capital stock e. productivity to decrease
Economics