If the Total Cost of Producing 20 Units of Output

question 167

Multiple Choice

If the total cost of producing 20 units of output is $1,000 and the average variable cost is $35, what is the firm's average fixed cost at that level of output?

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

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Definitions:

Free Blacks

Refers to African Americans who were not enslaved before the Emancipation Proclamation and the end of the Civil War in the United States.

Charles Grandison Finney

A prominent American preacher and leader in the Second Great Awakening, his methods and messages led to significant religious revivals in the 19th century.

Alexis De Tocqueville

A French political thinker and historian best known for his works "Democracy in America," examining the democratic revolution in the United States.

Christianity

A monotheistic religion based on the life and teachings of Jesus Christ, emphasizing salvation through faith and the concept of the Trinity.