A Firm Produces 400 Units of Output at a Total

question 248

Multiple Choice

A firm produces 400 units of output at a total cost of $1,200. If total variable costs are $1,000,

• A)average fixed cost is 50 cents.
• B)average variable cost is $2.
• C)average total cost is $2.50.
• D)average total cost is 50 cents.

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