The figure given below shows the average fixed cost (AFC) and the average variable cost (AVC) curves of a competitive firm.Figure 8.1

-Using Figure 8.1 determine the average total cost of producing the first unit of the output.
A)$10
B)$20
C)$30
D)$40
E)$50

Question

The figure given below shows the average fixed cost (AFC) and the average variable cost (AVC) curves of a competitive firm.Figure 8.1
 
-Using Figure 8.1 determine the average total cost of producing the first unit of the output.
A)$10 
B)$20 
C)$30 
D)$40 
E)$50

Quizplus · Accepted Answer

The Answer of The figure given below shows the average fixed cost (AFC) and the average variable cost (AVC) curves of a competitive firm.Figure 8.1
 
-Using Figure 8.1 determine the average total cost of producing the first unit of the output.
A)$10 
B)$20 
C)$30 
D)$40 
E)$50

The Figure Given Below Shows the Average Fixed Cost (AFC)