Economics · May / June 2024 · Paper 11 · Question 14

2281Firms’ costs, revenue and objectives

The table shows the costs and output of a firm. total cost | $10 000 total variable cost | $8000 quantity | 10 What is the average fixed cost of the firm?

A$200
B$800
C$1000
D$2000

As printed in the paper

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Correct answer: A. $200

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