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

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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Question

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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

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