Chapters 7, x ECON 2106, Husain, Fall 201 à Server Net Found 23221 C) $550,000.

Question

Chapters 7, x ECON 2106, Husain, Fall 201 à Server Net Found 23221 C) $550,000. D) $755,000. Random Section 19- avg costs Question 19 0/1 point Use the following scenario to answer the questions that follow 1.2 million per year, his variable costs are $750,000, and his fixed costs are $450,000 per year Last Steve sold 1.200 bikes Steve's average fixed cost was A) $625 B) $2,000 C) $1.000 D) $375 Random Section 20-marg avg rel Question 20 1/1 point When the average variable cost curve is upward-sloping, what must be true about the marginal cost curve? A) It is U-shaped ) Type here to search

Explanation / Answer

Average fixed cost is the ratio of Total fixed cost and total quantity produced.

Average fixed cost = fixed cost / sales

= 450000/1200= 375

D) 375 is correct

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