Question 1

Use the values in the table below to answer the following questions.

Q TC ATC MC

1 16.32 16.32

8 -(A)- 55.63

9 -(B)- -(C)- 172.4

29 18610 641.7

30 -(E)- -(D)- 1970

Cell (D) stands for the average total cost of 30 units. Its value should be ____.

A. 686

B. 3978.54

C. 343

D. 32.64

E. 1234.8

F. 960.4

Question 2

Use the values in the table below to answer the following questions.

Q TC ATC MC

1 24.99 24.99 9.77

3 -(A)- 18.9 18.57

4 -(B)- -(C)- 23.6

30 7469 249 301.8

31 -(E)- -(D)- 318.2

Cell (A) stands for the total cost of 3 units. Its value should be ____.

A. 56.69

B. 47.25

C. 60.48

D. 28.35

Question 3

The slope of the total revenue curve is:

A.constant under perfect competition.

B.marginal cost.

C.net revenue.

D.varying under perfect competition.