Q57 Open Text, a hypothetical firm in Waterloo, has TFC of $200. TVC is $600, and TP is 4 units, then:Multiple Choiceaverage varlable cost is $150.average fixed cost is $100.marginal cost is $50.average total cost is $100.

Total cost is determined when we add total fixed cost with total variable cost.

open Text, a nypotnetical firm in waterioo, has TFC of $200, TVC is $600, and TP iS 4 units, then: Multiple Cholce average varlable cost is $150. average fixed cost is $100. marginal cost is $50. average total cost is $100.

open Text, a nypotnetical firm in waterioo, has TFC of $200, TVC is $600, and TP iS 4 units, then: Multiple Cholce average varlable cost is $150. average fixed cost is $100. marginal cost is $50. average total cost is $100.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 9SQP

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

Question

Q57

Open Text, a hypothetical firm in Waterloo, has TFC of $200. TVC is $600, and TP is 4 units, then:
Multiple Choice
average varlable cost is $150.
average fixed cost is $100.
marginal cost is $50.
average total cost is $100.

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