In the Short Run,a Firm's Output Level Is 5 Units

question 90

Multiple Choice

In the short run,a firm's output level is 5 units.Its average cost is $40 and its fixed cost is $50.What is this firm's variable cost of producing 5 units?

• A) VC = $50
• B) VC = $100
• C) VC = $150
• D) VC = $175

---

Definitions:

Median

A statistical measure representing the middle value in a set of data when arranged in ascending or descending order.

Distribution

In statistics, distribution refers to the way values of a variable are spread or dispersed across a range.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how spread out the data points are from the mean.

Variation

The occurrence of differences or discrepancies in characteristics, outcomes, or processes within or among entities or populations.