In the short run, a firm’s output level is 5 units. Its average cost i
In the short run, a firm’s output level is 5 units. Its average cost is $40 and its fixed cost is $50. What is this firm’s variable cost of producing 5 units?
A) VC = $50
B) VC = $100
C) VC = $150
D) VC = $175
ANSWER
C
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