The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use this information to answer the following question. Output 1 2345 Refer to the information. The average fixed cost of 3 units of output is: O $40. $13.33. O $18.50. TVC $30 50 65 85 110 O $12.50.

The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use this information to answer the following question. Output 1 2345 Refer to the information. The average fixed cost of 3 units of output is: O $40. $13.33. O $18.50. TVC $30 50 65 85 110 O $12.50.

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: The Cost Of Production

Section: Chapter Questions

Problem 6PA

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