In the Short Run, If Average Variable Costs Equal $45

question 34

Multiple Choice

In the short run, if average variable costs equal $45, average total costs equal $50, and output equals 100, the total fixed costs will equal

• A) $5.
• B) $500.
• C) $1,000.
• D) $5,000.

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Definitions:

Judges

Individuals appointed or elected to rule on legal matters and disputes in courts.

Five-Point Scale

A rating system that measures opinions, experiences, or responses using five distinct options typically ranging from very low to very high.

Cumulative

Describes something that increases or accumulates over time.

Guttman Scale

A scale that contains either favourable or unfavourable statements arranged hierarchically. Agreement with a strong statement implies agreement with weaker ones; disagreement with a weak one implies disagreement with stronger ones.