In the short run, a firm ‘s output level is 10 units. Its total cost i
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?
A) AVC = $250
B) AVC = $275
C) AVC = $300
D) AVC = $400
ANSWER
C
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