Firm X's Total Fixed Costs Are $1,000

question 68

Multiple Choice

Firm X's total fixed costs are $1,000. Its total variable costs of producing 100 units are $2,000, and its total variable costs of producing 200 units are $4,000. What are its average costs of producing 100 and 200 units of output?

• A) $30 and $25
• B) $20 and $20
• C) $10 and $5
• D) $25 and $30

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Definitions:

Cultural Biases

Prejudices or predispositions toward certain cultures, often resulting from one's own cultural background and experiences.

Own Biases

Personal prejudices or preferences that can influence one's judgment or decision-making process.

Golden Rule

A principle of treating others as one would wish to be treated oneself.

Cultural Competency

The ability to understand, appreciate, and interact effectively with people from cultures or belief systems different from one’s own.