The Accompanying Table Gives Cost Data for a Firm That

question 137

Multiple Choice

The accompanying table gives cost data for a firm that is selling in a purely competitive market. At 5 units of output, average fixed cost, average variable cost, and average total cost are

• A)$10, $60, and $70, respectively.
• B)$50, $40, and $90, respectively.
• C)$10, $70, and $80, respectively.
• D)$5, $25, and $30, respectively.

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Definitions:

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