Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:A pizza business has the cost structure described below. The firm's fixed costs are $20 per day
Output (pizzas Total cost of
output (fixed +
variable)
$20
per day)
$80
$120
$150
$175
10
15
20
25
$195
30
$210
$230
$255
35
40
What are the firm's average total costs at an output of 10 pizzas?
$12
$100
$10
$120
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