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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Definitions:

Employee Relations

The efforts of an organization to manage relationships between employers and employees in order to maintain work-place harmony and resolve workplace conflicts.

Supervisors

Individuals who have the responsibility and authority to oversee the work performance of others and guide them towards achieving the objectives of the organization.

Organization

A structured group of individuals working together to achieve common goals or purposes, typically within an identified framework or system.

SHRM Competency Model

A framework developed by the Society for Human Resource Management that outlines the necessary skills and competencies for HR professionals.