Profit Maximization
AP Microeconomics · Flashcards · Application
AP MICROECONOMICS · FLASHCARDS
Card 1
of 11
0 got it
0 to review
Current
Got it
Still learning
Not seen
QUESTION
Determine if a firm should produce when P = $10 and AVC = $12.
QUESTION
Find the total profit if TR = $800 and TC = $600.
QUESTION
Calculate average cost if TC = $400 and quantity = 20.
Tap to flip before you grade
ANSWER
AC = $20.
A
C
=
T
C
Q
=
$
400
20
=
$
20
AC = \frac{TC}{Q} = \frac{\$400}{20} = \$20
A
C
=
Q
T
C
=
20
$400
=
$20
Swipe → got it · swipe ← still learning
Got it
Still learning
Flip Card
Previous card
Next card