If the Total Cost of Production for 1000 Widgets Is

question 15

Multiple Choice

If the total cost of production for 1000 widgets is $2000 and marginal cost is constant at $1,what is the average fixed cost for the 1000 widgets?

• A)$2
• B)$1.50
• C)$1
• D)$0.50

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Definitions:

Townshend Acts

A series of British laws passed in the late 1760s imposing duties on various goods imported to the American colonies, which sparked widespread protests and contributed to the American Revolutionary War.

Homespun Items

Goods made at home, typically referring to clothing or textiles that are handwoven or crafted, often symbolizing self-reliance or economic protest.

Successfully Resisted

The act of effectively opposing or standing firm against an opposing force or influence.

Non-Importation Movement

an organized effort to stop importing goods from Britain during the American colonial period as a protest against taxes and British regulation.