Table 13-3 Consider the Following Firm Which Makes High-Performance Racing Bicycles.All Costs

question 124

Multiple Choice

Table 13-3
Consider the following firm which makes high-performance racing bicycles.All costs are given in dollars.Output is shown on a monthly basis.The firm's fixed costs include a rent of $800 and a lease cost of $400 per month.
-Refer to Table 13-3.At what level of output will average variable cost equal average total cost?

• A)when marginal cost equals average variable cost
• B)when marginal cost equals average total cost
• C)there is no level of output where this occurs, as long as fixed costs are positive
• D)this holds true for all levels of output in which average variable cost is falling

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