Kim runs a sandwich joint that has a fixed cost of $1,000 . She has employed 3 workers and pays $100 per day to each worker. She sells 420 sandwiches per day at a price of $3.40 per sandwich. The average fixed cost incurred in the production of sandwiches is equal to:

a. $2.38.
b. $3.09.
c. $1.48.
d. $0.88.

a

Economics

You might also like to view...

List the four determinants of an economy's productivity

Economics

Refer to the data for a nondiscriminating monopolist. This firm will maximize its profit by producing:



A.  3 units.
B.  4 units.
C.  5 units.
D.  6 units.

Economics