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    Economics Today Study Set 1
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    Exam 22: The Firm: Cost and Output Determination
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    -If Total Costs Are $50,000 When 1000 Units Are Produced
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-If Total Costs Are $50,000 When 1000 Units Are Produced

Question 44

Question 44

Multiple Choice

  -If total costs are $50,000 when 1000 units are produced, and total costs are $50,100 when 1001 units are produced, we can conclude that A)  average variable costs are $100. B)  average total costs are $100. C)  average fixed costs are $100. D)  marginal costs are $100.
-If total costs are $50,000 when 1000 units are produced, and total costs are $50,100 when 1001 units are produced, we can conclude that


A) average variable costs are $100.
B) average total costs are $100.
C) average fixed costs are $100.
D) marginal costs are $100.

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