Table 14-10
Suppose that a firm in a competitive market faces the following revenues and costs:

Quantity

Total Revenue

Total Cost

0

$0

$3

1

$7

$5

2

$14

$9

3

$21

$15

4

$28

$23

5

$35

$33

6

$42

$45

7

$49

$59

Refer to Table 14-10. Which level of production in the table has the lowest average variable cost?

a. 2 units
b. 3 units
c. 1 unit
d. 4 units

the answer is a, but I need the reason

What would be the input, conversion and output of developing a new soft drink

Which law would encourage more people to become homeowners but not encourage risky loans that could end in foreclosure? options: offering first time homebuyers tax-free accounts to save for down payments requiring all mortgages to be more affordable, interest-only loans outlawing home inspections and appraisals by mortgage companies limiting rent increases to less than 2% a year

Christopher kim, cfa, is a banker with batts brothers, an investment banking firm. kim follows the energy industry and has frequent contact with industry executives. kim is contacted by the ceo of a large oil and gas corporation who wants batts brothers to underwrite a secondary offering of the company's stock. the ceo offers kim the opportunity to fly on his private jet to his ranch in texas for an exotic game hunting expedition if kim's firm can complete the underwriting within 90 days. according to cfa institute standards of conduct, kim: a) may accept the offer as long as he discloses the offer to batts brothers.b) may not accept the offer because it is considered lavish entertainment.c) must obtain written consent from batts brothers before accepting the offer.