The Figure Given Below Shows the Average Fixed Cost (AFC)

question 52

Multiple Choice

The figure given below shows the average fixed cost (AFC) and the average variable cost (AVC) curves of a competitive firm.Figure 8.1

-Using Figure 8.1 determine the average total cost of producing the first unit of the output.

• A)$10
• B)$20
• C)$30
• D)$40
• E)$50

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Definitions:

Structurally

Relating to or pertaining to the arrangement of and relations between parts or elements of a complex entity.

Ammonia

A compound of nitrogen and hydrogen (NH3) with a distinct pungent smell, used widely as a fertilizer and cleaning agent.

Lewis Structure

Representation of the distribution of electrons in molecules, showing how atoms are connected and where lone pairs of electrons are located.

Hydrogen Sulfide

A colorless, poisonous, flammable gas with the characteristic foul odor of rotten eggs; used in the manufacture of chemicals, in metallurgy, and as a fungicide and insecticide.