Wilbur's Widgets, a Widget Company, Produces 100 Widgets

question 206

Multiple Choice

Wilbur's Widgets, a widget company, produces 100 widgets. Its average fixed cost is $5 and its total variable cost is $300. What is the total cost of producing 100 widgets?

• A) $300
• B) $305
• C) $500
• D) $800

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Definitions:

Inequality

A term that refers to the unequal distribution of resources, wealth, opportunities, and rights among members of a society or between societies.

Design Department

A division within a company responsible for conceptualizing and developing new products or systems.

Labor Hours

The total number of hours worked by employees during a certain period, often used to measure productivity or calculate wage costs.

Gaming Consoles

Dedicated electronic systems designed to play video games, typically connecting to a display device such as a television or monitor.