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Cindy's Car Wash Has Average Variable Costs of $2 and Average

question 641

Multiple Choice

Cindy's Car Wash has average variable costs of $2 and average fixed costs of $3 when it produces 100 units of output (car washes) . The firm's total cost is

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Definitions:

Entrepreneur

An individual who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.

Entrepreneurs

Individuals who create, launch, and manage new businesses, often taking on considerable risk in the expectation of profit.

Bankruptcy

A legal process involving a person or business that is unable to repay outstanding debts, resulting in the distribution of assets to creditors.

Equity Financing

Exchanging ownership shares for outside investment monies.

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