SSC
GENERAL ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When it produces 100 units, a firm’s total variable cost is $1000 and its total fixed cost is $4000.Calculate the average cost.
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$10
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$30
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$40
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$50
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Explanation:
Detailed explanation-1: -For this example, this formula is as follows: 100 x 37 = 3, 700. This means that the total variable cost required to produce 100 units is $3, 700.
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