Refer to Table 8

question 64

Multiple Choice

Refer to Table 8.1.Assume the wage rate is $10 and the firm has $1,000 in unavoidable fixed cost.What is the variable cost of producing 45 units of output?

• A) $30
• B) $10
• C) $450
• D) $22.22

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Definitions:

Competes Worldwide

The capability of an organization or entity to engage and perform in international markets against global competitors.

Low Costs

Strategies or practices aimed at reducing expenses and financial outlays in business operations or production.

Low Prices

The condition of goods or services being offered to consumers at a reduced or competitive cost.

Differentiation Strategy

A business approach that involves making a product or service distinct from competitors' offerings through unique features, quality, or branding.