Solved

Given the Total Cost Function TC = 2,000 + 2Q

Question 105

Multiple Choice

Given the total cost function TC = 2,000 + 2Q, when output is 1,000 units average total cost is ________ and total fixed cost is ________.

A) $2; $2
B) $4; $2
C) $4; $2,000
D) $4,000; $2,000

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