Multiple Choice
Mr. Hudson notes that if he produces 10 pairs of shoes per day, his average fixed cost (AFC) is $14 and his marginal cost is $8; if he produces 20 pairs of shoes per day, his MC is $15. What is his AFC when output is 20 pairs of shoes per day?
A) $5
B) $7
C) $8
D) $15
Correct Answer:
Verified
Correct Answer:
Verified
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