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Refer to the Following

Question 52

Multiple Choice

Refer to the following:

A firm produces 4,000 units of output using 500 workers. Marginal cost is $10, the wage rate is $160, and total fixed cost is $100,000.

-What is average variable cost?


A) $0.32
B) $16
C) $20
D) $1,280
E) none of the above

Correct Answer:

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