A firm produces 400 units of output at a total cost of $1,200 . If total variable costs are $1,000,
a. average fixed cost is 50 cents.
b. average variable cost is $2.
c. average total cost is $2.50.
d. average total cost is 50 cents.
a
Economics
You might also like to view...
Why do economists care about aggregate expenditures?
What will be an ideal response?
Economics
The Paris Agreement on Climate Change of 2015 was signed by
A. only nations in Asia. B. nearly 200 nations. C. all nations in the world. D. only the United States and the European Union.
Economics