Multiple Choice
Suppose you operate a factory that produces 500 lawn mowers a week. If your weekly variable cost is $40,000 and your weekly total cost is $50,000, the average:
A) fixed cost of production is $80.
B) cost of production is $80.
C) fixed cost of production is $20.
D) variable cost of production is $100.
Correct Answer:
Verified
Correct Answer:
Verified
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