A perfectly competitive firm sells 15 units of output at the going market price of $10. Suppose

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A perfectly competitive firm sells 15 units of output at the going market price of $10. Suppose its average cost is $15 and its average variable cost is $8. Its contribution margin (i.e., contribution to fixed cost) is

A.$30.
B.$150.
C.$105.
D.cannot be determined from the above information.

Related Book For answer-question

Economics

ISBN: 978-1285738321

12th edition

Authors: Roger A. Arnold

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Posted Date: Jan 19, 2021 04:37 PM

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A perfectly competitive firm sells 15 units of output at the going market price of $10. Suppose

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