Multiple Choice
You run a small business producing picture frames. This month your total cost is $10,000, your variable cost is $5,000, and your output is 5,000 picture frames. Given this information, your:
A) average variable cost is $2.
B) average total cost is $3.
C) average total cost is $1.
D) average fixed cost is $1.
Correct Answer:
Verified
Correct Answer:
Verified
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