In the short run, a firm's output level is 10 units. Its total cost is $4000 and its average fixed cost is $100. What is this firm's average variable cost (AVC) of producing 10 units? Select one: O a AVC-$275 O b. AVC-$250 Oc AVC-$300 O d. AVC-$400

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
Problem 3CQQ
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In the short run, a firm 's output level is 10 units. Its total cost is $4000 and its average fixed cost is $100. What is this firm's average
variable cost (AVC) of producing 10 units?
Select one:
O a.
AVC-$275
O b.
AVC= $250
Oc AVC= $300
O d. AVC= $400
Transcribed Image Text:In the short run, a firm 's output level is 10 units. Its total cost is $4000 and its average fixed cost is $100. What is this firm's average variable cost (AVC) of producing 10 units? Select one: O a. AVC-$275 O b. AVC= $250 Oc AVC= $300 O d. AVC= $400
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