A firm is producing 100 units of output at a total cost of $800. The firm’s...

Question

Question

A firm is producing 100 units of output at a total cost of $800. The firm’s average variable cost is $3 per unit. The firm’s:

average fixed cost is $3

marginal cost is $8

total variable cost is $500

total variable cost is $300

business economics

Answer 1

Answer #1

Answer : The answer is option D.

Total variable cost = Average variable cost * Quantity = 3 * 100

=> Total variable cost = $300

Therefore, option D is correct.

Answer 2

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