Test: AP Microeconomics

Assume the firm operates in the short-run. Use the following chart for questions 1-5:

 

Units

Total Revenue

Total cost

0

0

15

1

11

18

2

20

23

3

27

30

4

32

39

5

36

50

6

39

62

7

39

75

1.

What is the fixed cost of the firm?

3

62

0

18

15

1/12 questions

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