Assume a certain competitive price-taker firm is producing Q = 1,000 units of output. At Q = 1,000 . the firm's marginal cost equals $15 and its average total cost equals $11 . The firm sells its output for $12 per unit. At Q = 999, the firm's total cost amounts to

Which of the following is not a reason why government programs might fail to achieve their goals?

a. Insufficient information to correctly achieve the goal. b. One policy goal is in direct conflict with another policy goal. c. Politicians respond to political incentives to deviate from the goal. d. Inability to use coercion to achieve the goal.

Refer to Figure 7.1. At output level Q2

A) average fixed cost is increasing. B) average variable cost equals average fixed cost. C) marginal cost is negative. D) average total cost is negative. E) none of the above