The Following Graph Shows the Marginal and Average Product Curves

question 77

Multiple Choice

The following graph shows the marginal and average product curves for labor,the firm's only variable input.The monthly wage for labor is $2,800.Fixed cost is $160,000. What is AVC at its minimum?

• A)$80
• B)$100
• C)$8
• D)$50
• E)$35

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Definitions:

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