You run a business producing t-shirts. This month your total cost of production is $80,000, your variable cost of production is $50,000, and you produce 10,000 t-shirts. It follows that average cost is a. variable: $2 b. total; $10. c. fixed; $3 d. total; $13
You run a business producing t-shirts. This month your total cost of production is $80,000, your variable cost of production is $50,000, and you produce 10,000 t-shirts. It follows that average cost is a. variable: $2 b. total; $10. c. fixed; $3 d. total; $13
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 21PAE
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![You run a business producing t-shirts. This month your total cost of production is $80,000, your variable cost
of production is $50,000, and you produce 10,000 t-shirts. It follows that average
cost is
a. variable: $2
b. total; $10
c. fixed; $3.
d. total; $13](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc5846bf1-80bc-40c8-bbb6-f3bccb75f7dd%2Fb2cb212a-277f-4814-b207-a076028a0886%2Fqdml2zc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:You run a business producing t-shirts. This month your total cost of production is $80,000, your variable cost
of production is $50,000, and you produce 10,000 t-shirts. It follows that average
cost is
a. variable: $2
b. total; $10
c. fixed; $3.
d. total; $13
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