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A Firm Produces 400 Units of Output at a Total

Question 248

Multiple Choice

A firm produces 400 units of output at a total cost of $1,200. If total variable costs are $1,000,

A) average fixed cost is 50 cents.
B) average variable cost is $2.
C) average total cost is $2.50.
D) average total cost is 50 cents.

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