A firm produces 5000 waterproof cellphone cases, which they sell for $30 each. They have $35,000 in fixed costs and S85,000 in total costs every year. What is the average variable cost? Selected Answer: e. $7 Answers: a. S17 b. $24 c. $27 d. $10 e. $7
A firm produces 5000 waterproof cellphone cases, which they sell for $30 each. They have $35,000 in fixed costs and S85,000 in total costs every year. What is the average variable cost? Selected Answer: e. $7 Answers: a. S17 b. $24 c. $27 d. $10 e. $7
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 23RQ: Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost,...
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![A firm produces 5000 waterproof cellphone cases, which they sell for $30 each. They have $35,000 in fixed costs and
S85,000 in total costs every year. What is the average variable cost?
Selected Answer:
e. $7
Answers:
a. $17
b. $24
c. $27
d. $10
e. $7](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F32f23992-e15e-480e-9905-bc950ff6e009%2F4cdab65c-eb24-4fc3-a79b-00bfe4b1c4e4%2F1ptmgla_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A firm produces 5000 waterproof cellphone cases, which they sell for $30 each. They have $35,000 in fixed costs and
S85,000 in total costs every year. What is the average variable cost?
Selected Answer:
e. $7
Answers:
a. $17
b. $24
c. $27
d. $10
e. $7
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