You operate a factory that produces beach towels. Your current level of output equals 2,000 towels per week. Your weekly variable cost equals $8,000 . If your total cost each week equals $9,000 . it follows that:
a. the average variable cost of production equals $2 per towel.
b. the average variable cost of production equals $4 per towel.
c. the average total cost of production equals $8 per towel.
d. none of the above
b
Economics
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The Taft-Hartley Act of 1947 made
A) union shops illegal. B) closed shops illegal. C) sympathy strikes legal. D) secondary boycotts legal.
Economics
With the economy booming, the government starts to worry about the increasing rate of inflation, and decides to cut its spending on highway maintenance and defer it to sometime in the future. This is an example of:
A. an automatic stabilizer. B. discretionary fiscal policy. C. expansionary fiscal policy. D. None of these is true.
Economics