What is the average total cost when output is 200 units i...
What is the average total cost when output is 200 units in the table above is
N1.00
N2.00
N1.20
N2.40
Correct answer is C
Average cost = total cost / output (quantity)
since total cost is not given in the diagram, we have to derive it. its gotten as;
Total cost = fixed cost + variable cost
TC = 100 + 140 = 240
In the question we were asked to find the average cost. Remember the formular given above. thus we have;
AC = 240 / 200 = 1.2
Similar Questions
The Nigerian indigenization decree process involves ...
Minimum price control is aimed at ...
Balance of payment deficit in Nigeria CANNOT be solved by ...
One economic implication of over-population is that it ...
The primary objective of Agricultural Credit Guarantee Scheme is the provision of ...