Table 11-2

QTRTC89590910293 10110100 11112105 12115110 ?
In Table 11-2, average cost at the profit-maximizing output is how much?

The elasticity of demand for chocolate chip cookies is 0.6 and the elasticity of supply for these cookies is 1.9. If a tax is imposed on purchases of chocolate chip cookies, then the

A) consumers would pay more of the tax. B) producers would pay more of the tax. C) tax would be equally shared by the consumers and the producers. D) consumers would pay the entire tax because their demand is less elastic than the producers' supply.

If in the market for oranges the supply has increased, then

A) the supply curve for oranges has shifted to the left. B) the supply curve for oranges has shifted to the right. C) there has been a movement upwards along the supply curve for oranges. D) there has been a movement downwards along the supply curve for oranges.