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Unit 1C Quiz 2

Unit 1C Quiz 2

Q Question 1 1 / 1 pts Refer to the diagram. The vertical distance between ATC and AVC reflects Question 2 1 / 1 pts Refer to the diagram. This firm's average fixed costs Question 3 1 / 1 pts Refer to the short-run production and cost data. In Figure B curve (3) is IncorrectQuestion 4 0 / 1 pts Refer to the diagram. The profit-maximizing level of output for this firm Question 5 1 / 1 pts Refer to the above graph. If the firm is producing at Q1, the area 0BEQ1 represents:

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1 the average fixed cost at each level of output. 2 are the vertical distance between AVC and ATC.