The Manager of Greene Enterprises,Inc $A V C = 88 - 0.026 Q + 0.000003 Q ^ { 2 }$

question 17

Multiple Choice

The manager of Greene Enterprises,Inc.,recently estimated its average variable cost (AVC) function to be $A V C = 88 - 0.026 Q + 0.000003 Q ^ { 2 }$ Greene Enterprises faces total fixed costs (TFC) of $300,000.When Greene's output is 2,000 units,what is average variable cost (AVC) ?

• A)$20
• B)$48
• C)$62
• D)$72
• E)$85

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Definitions:

Bank Reconciliation

The process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement.

Company's Balance

The total net worth or financial position of a company at a specific point in time, often reflected in the balance sheet.

Balance Per Bank

The ending cash balance in a company's bank account as per the bank's records.

Credit Memo

A document issued by a seller to a buyer, reducing the amount the buyer owes to the seller, typically due to a return or refund.