The following figure shows the total cost and total revenue for a firm when it prices its products at $8 and $10.
Figure 9-1
-Refer to Figure 9-1.When the firm is producing the profit-maximizing level of output at a price of $10:
A)total fixed costs are OA.
B)economic profits equal BH.
C)average cost equals DG divided by OG.
D)total cost is minimized at B.

Question

The following figure shows the total cost and total revenue for a firm when it prices its products at $8 and $10.
Figure 9-1 
-Refer to Figure 9-1.When the firm is producing the profit-maximizing level of output at a price of $10:
A)total fixed costs are OA. 
B)economic profits equal BH. 
C)average cost equals DG divided by OG. 
D)total cost is minimized at B.

Quizplus · Accepted Answer

The Answer of The following figure shows the total cost and total revenue for a firm when it prices its products at $8 and $10.
Figure 9-1 
-Refer to Figure 9-1.When the firm is producing the profit-maximizing level of output at a price of $10:
A)total fixed costs are OA. 
B)economic profits equal BH. 
C)average cost equals DG divided by OG. 
D)total cost is minimized at B.

The Following Figure Shows the Total Cost and Total Revenue