you know that when a firm produces 50 units of output, total costs are $8,000 and average fixed costs are $40, then total variable costs are: A. $2,000 B. $4,000 C. $6,000 D. $8,000
you know that when a firm produces 50 units of output, total costs are $8,000 and average fixed costs are $40, then total variable costs are: A. $2,000 B. $4,000 C. $6,000 D. $8,000
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 7PA
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20. If you know that when a firm produces 50 units of output, total costs are $8,000 and average fixed costs are $40, then total variable costs are:
A. $2,000
B. $4,000
C. $6,000
D. $8,000
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