The total product is 10 units. The average total cost is $30 and the average fixed cost is $10. What is the amount of the total variable cost?
A) $20
B) $200
C) $300
D) $10
E) It is impossible to determine with the information given.
B
Economics
You might also like to view...
High skilled labor and information technology are ________ while low skilled labor and information technology are ________
A) complements; substitutes B) substitutes; substitutes C) substitutes; complements D) complements; complements
Economics
The long-run supply curve for a constant-cost perfectly competitive industry is
a. a ray from the origin at a 45-degree angle b. perfectly inelastic c. somewhat inelastic d. perfectly elastic e. declining
Economics