The declining cost of computer technology has made ________ a reality

Refer to Figure 11-7. When the output level is 100 units average fixed cost is

A) $10. B) $8. C) $5. D) This cannot be determined from the diagram.

A firm with total revenue of $500, total cost of $700, and variable cost of $400 should continue to operate its production facility.

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