Mr Hudson Notes That If He Produces 10 Pairs of Shoes

question 158

Multiple Choice

Mr. Hudson notes that if he produces 10 pairs of shoes per day, his average fixed cost (AFC) is $14 and his marginal cost is $8; if he produces 20 pairs of shoes per day, his MC is $15. What is his AFC when output is 20 pairs of shoes per day?

• A) $5
• B) $7
• C) $8
• D) $15

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