Suppose, at an output of 500 units, a firm’s total cost (TC) is equal to $7,000; and their Average Fixed Cost (AFC) is equal to $1. What is this firm’s average variable cost when they produce 500 units? Group of answer choices 13 10 14 500 6500

A firm has fixed costs of $400, average total costs of $3 and average variable costs of $2.50. The output of the firm is _____________.

When it produces 100 units, a firm’s total variable cost is $300 and its total fixed cost is $2700. What is the average cost?1 point$3$24$27$30

Assume that in the short run, a firm which is producing 100 units of output has average total costs of $200 and average variable costs of $150. The firm's total fixed costs are:Group of answer choices$500.$0.50.$50 .$5000.

A purely competitive firm finds that the market price for its product is $30. It has a fixed cost of $100 and a variable cost of $17.50 per unit for the first 50 units and then $37.50 per unit for all successive units. Instructions: Enter your answers rounded to two decimal places. a. Does price equal or exceed average variable cost for the first 50 units?            What is the average variable cost for the first 50 units?       $  per unit b. Does price equal or exceed average variable cost for the first 100 units?            What is the average variable cost for the first 100 units?       $  per unit c. What is the marginal cost per unit for the first 50 units?       $  per unit      The marginal cost for units 51 and higher?       $  per unit d. For each of the first 50 units, does MR exceed MC?            Is MR > MC for units 51 and higher?       e. What output level will yield the largest possible profit for this purely competitive firm?      units

What is the relationship between Average Total Cost (ATC), Average Fixed Cost (AFC), and Average Variable Costs (AVC)?Question 16Select one:a.ATC = AFC / AVCb.ATC = AFC + AVCc.ATC = AFC * AVCd.ATC = AFC - AVC