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Suppose Sarah's pottery studio produces 5 units of output, its average cost is $100, average variable cost is $80. The fixed cost cost must be $ 1) 500 2) 180 3) 100 4) can't be determined

Suppose Sarah's pottery studio produces 5 units of output, its average cost is $100, average variable cost is $80. The fixed cost cost must be $ 1) 500 2) 180 3) 100 4) can't be determined

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose Sarah's pottery studio produces 5 units of output, its average cost is $100, average variable cost is $80. The fixed cost cost must be $ 1) 500 2) 180 3) 100 4) can't be determined
Transcribed Image Text:Suppose Sarah's pottery studio produces 5 units of output, its average cost is $100, average variable cost is $80. The fixed cost cost must be $ 1) 500 2) 180 3) 100 4) can't be determined
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