Question 2Full explain this question 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) 5002) 1803) 1004) can't be determined

Fixed costs refers to those costs of production that are incurred at the time of starting up of the…

Answered: Suppose Sarah's pottery studio produces…

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