Economics · May / June 2026 · Paper 12 · Question 15

A firm has the following set of costs at different levels of output. | output | total fixed costs $ | total variable costs $ | |---|---|---| | 10 | 100 | 600 | | 20 | 100 | 900 | | 30 | 100 | 1100 | | 40 | 100 | 1900 | At which level of output is the average total cost at its lowest level?

1. A10
2. B20
3. C30
4. D40

As printed in the paper