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SalaDinHo SalaDinHo
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5 years ago

Question 1.

A dairy company, Farley Farm, has total costs of $10,000 and total variable costs of $3,000. Farley Farm's total fixed costs are



▸ $0.

▸ $7,000.

▸ $13,000.

▸ indeterminate because the firmʹs output level is not known.

Question 2.

Both Stan and Kyle own potato chip factories. Stan's factory has low fixed costs and high variable costs. Kyle's factory has high fixed costs and low variable costs. Currently, each factory is producing 5,000 bags of potato chips at the same total cost. Complete the following statement with the correct answer. If each produces



▸ less, their costs will be equal.

▸ more, their costs will be equal.

▸ more, the costs of Kyle's factory will exceed those of Stan's factory.

▸ less, the costs of Kyle's factory will exceed those of Stan's factory.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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Strategyboyz21Strategyboyz21
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5 years ago
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SalaDinHo Author
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5 years ago
This site is awesome
riptide
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Yesterday
Good timing, thanks!
Mcb
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2 hours ago
You make an excellent tutor!
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