If Average Total Cost Is $50 and Average Fixed Cost

question 79

Multiple Choice

If average total cost is $50 and average fixed cost is $15 when output is 20 units, then the firm's total variable cost at that level of output is

• A)$1,000.
• B)$700.
• C)$300.
• D)impossible to determine without additional information.

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Definitions:

Devonian Period

An era known as the "Age of Fishes," characterized by significant evolutionary advancements in fish and the appearance of early amphibians, occurring from approximately 419 to 359 million years ago.

Gnetophytes

A phylum of gymnosperm plants with unique features distinguishing them from other gymnosperms.

Vessel Elements

Components of the xylem tissue in plants, responsible for water transportation throughout the plant.

Angiosperms

A group of plants that have flowers and produce seeds enclosed within a carpel; includes most of the world’s flora.