[单选]The Wacky Widget company has total fixed costs of $100,000 per year. The firm’s average variable cost is $10 for 10,000 widgets. At that level of output, the firm’s average total costs equal
A. $10
B. $15
C. $20
D. $25
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[单选]Curve A represents which type of cost curve?
A. marginal cost
B. average total cost
C. average variable cost
D. average fixed cost
[单选]Which curve is most likely to represent marginal cost?
A
B
C
D
[单选]Curve D is increasing because
A. of diminishing marginal product.
B. of increasing marginal product.
C. marginal product first increases, then decreases.
D. marginal product first decreases, then increases.
[单选] Curve D intersects curve C
A. where the firm maximizes profit.
B. at the minimum of average fixed cost.
C. at the efficient scale.
D. where fixed costs equal variable costs.