If the Total Cost of Producing 20 Units of Output

question 295

Multiple Choice

If the total cost of producing 20 units of output is $1000 and the average variable cost is $35, the firm's average fixed cost at that level of output is

• A)$65
• B)$50
• C)$15
• D)It is impossible to determine without additional information.

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Definitions:

Craft Union

A labor union whose membership is restricted to skilled workers in a specific trade or craft.

Authorization Card

A card signed by employees to indicate their support for or interest in being represented by a union in collective bargaining.

Organizing Campaign

Efforts or movements initiated by a union or group to gather support and membership among workers.

National Labor Relations Board

An independent US federal agency tasked with enforcing labor laws in relation to collective bargaining and unfair labor practices.