A firm is producing 300 units of output at a total cost of $6,000, with a variable cost of $5 per unit. What is the firm’s average fixed cost?

Consider the following statements: I. All types of price discrimination yield a loss in total surplusII. First-degree price discrimination yields a higher producer surplus than third-degree price discrimination

In the market for apartment rentals, the demand and supply equations are given by QD = 9,000 – 2P and QS = 3P + 1,000, where P is the price per apartment and Q measures the quantity of apartments. What is the equilibrium quantity?

Suppose the equilibrium wage for fast food employees is $12 per hour. Concerned about the living standards of workers, the government imposes a price floor of $15 per hour. This policy will _____.

A firm’s demand curve is given by Q = 50 – P. What is the firm’s corresponding marginal revenue curve?

Government encouragement of monopoly

In the market for apartment rentals, the demand and supply equations are given by QD = 5,000 – 3P and QS = 5P + 1,000, where P is the price per apartment and Q measures the quantity of apartments. What is the equilibrium quantity?

Suppose a firm’s total cost is given by TC = 210 + 10Q + 3Q2, and its marginal cost is given by MC = 10 + 6Q. It operates in a perfectly competitive market where the price per unit of output is $100. What value of Q maximizes the firm’s profits?

If a firm practices first-degree price discrimination, the firm must

In an indirect price discrimination mechanism, a firm _____.