The figure given below shows the average fixed cost (AFC) and the average variable cost (AVC) curves of a competive firm. Figure 7.1
- Using Figure 7.1 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 competive firm. Figure 7.1 
- Using Figure 7.1 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 competive firm. Figure 7.1 
- Using Figure 7.1 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)