12) Chuck Diesel Burger is a food truck in Houston, Texas. Imagine that Chuck Diesel Burger’s minimum average total cost (ATC) is $3.75 and that its minimum average variable cost (AVC) is $2.50. Assume there are no barriers to enter into or exit from the food-truck market. Chuck Diesel Burger will break even if the price is equal to:
A. $3.00. . C. $2.50. . E. $3.75.
14) Refer to the accompanying figure. Point ________ corresponds to the profit-maximizing quantity that a competitive firm would produce A. E B. D C. C D. A E. B