Which of the following is an important ingredient of efficient economic organization

Answer the following statements true (T) or false (F)

1. Public policy has been ineffective in alleviating the resource misallocation problem in American agriculture. 2. The price and income support programs for agriculture have given the most benefit to those farmers with the most need for the government assistance. 3. Farmers, though a small proportion of the population, can impose a large total cost to taxpayers in the form of agricultural subsidies because the average cost imposed on each individual taxpayer is small and not given much attention by a large number of taxpayers. 4. Agricultural price support programs result in consumers paying lower prices for the product. 5. Domestic farm subsidies improve world trade and contribute to greater efficiency in the international allocation of agricultural resources.

How is average total cost calculated? If the total cost of producing 190 units of output is $355, what is the average total cost?

What will be an ideal response?