Jason owns a lamp store. His total costs are $145,000 per year, and his fixed cost are $19,200. His production is 12,500 per year. This means that his average variable is how much? (hint: enter your answer in two decimals)

Jason owns a lamp store. His total costs are $145,000 per year, and his fixed cost are $19,200. His production is 12,500 per year. This means that his average variable is how much? (hint: enter your answer in two decimals)

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 7SQP

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Question

Jason owns a lamp store. His total costs
are $145,000 per year, and his fixed cost are
$19,200. His production is 12,500 per year.
This means that his average variable is
how much? (hint: enter your answer in two
decimals)
The answer should be 10.06, please explain
how to get to the answer

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