Suppose That for 20 Bicycles,the Total Fixed Cost Is $100

question 61

Multiple Choice

Suppose that for 20 bicycles,the total fixed cost is $100 and total variable cost is $300.Then the average fixed cost and average variable cost are:

• A)$5 and $10 respectively.
• B)$5 and $15 respectively.
• C)$10 and $15 respectively.
• D)$15 and $10 respectively.
• E)$10 and $5 respectively.

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Definitions:

Annually

Pertaining to an event or activity that occurs once every year.

New Home Prices

The selling prices of newly constructed homes currently on the market.

Cost

The amount of money required to purchase goods or services or the value consumed in the production of goods or services.

Discount Rate

The rate of interest applied to loans provided to commercial banks and other financial institutions by the Federal Reserve through its discount window.