2. Given ATC = $300, TFC = $2000, and TC = $6000, find AVC. (1.5 points)...

Question

Question

Answer 1

Answer #1

AVC = Total cost - Total fixed cost.

6000 - 2000 = 4000 is the total variable cost, quantity = 6000 / 300 = 20. Average variable cost = 4000 /20 = 200.

Answer 2

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