If the Total Cost of Production for 1000 Widgets Is

question 55

Multiple Choice

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

• A)$2
• B)$1.50
• C)$1
• D)$0.50

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Definitions:

Appraiser

A professional who assesses and determines the market value of assets, such as real estate or properties.

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The first individuals or entities to own an item, particularly relevant in contexts like real estate or vehicle sales, indicating items have not been previously sold or used.

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