Multiple Choice
Suppose a firm is producing 500 units of output, incurring a total cost of $700 000 and total fixed cost of $100 000. It can be concluded that average variable cost is
A) $1200.
B) $1600.
C) $600.
D) $1400.
E) $200.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q38: The period of time over which all
Q62: When a plant is operating at the
Q63: A firm can raise financial capital without
Q65: Consider a firm in the short run.
Q66: "An objective of firms is to maximize
Q68: The law of diminishing returns states that
Q69: In the short run, when capital is
Q70: In the short run, the firm's product
Q71: If Michelle used $1000 from her savings
Q105: The following data show the total output