You Run a Business Producing Picture Frames

question 268

Multiple Choice

You run a business producing picture frames.This month your total cost of production is $10,000, your variable cost of production is $6,000, and you produce 3,000 picture frames.It follows that:

• A)average variable cost is $2.
• B)average total cost is $3.
• C)average total cost is $1.
• D)average fixed cost is $1.

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Definitions:

French Civil Code

A foundational legal document in France, also known as the Napoleonic Code, which influences civil law systems worldwide.

Justinian's Code

A collection of laws and legal interpretations developed under the direction of the Byzantine emperor Justinian I in the 6th century.

Civil Law System

A legal system based on written codes or statutes, as opposed to common law, which is based on precedent and judicial decisions.

Charter of Rights and Freedoms

A foundational constitutional document in Canada that guarantees fundamental freedoms and rights to its citizens.