O-LevelEconomicsMicroeconomic decision makers2281/11 · May/June 2014 · Q151 Mark

When it produces 100 units, a firm's total variable cost is $300 and its total fixed cost is $2700. What is the average cost?

A$3

B$24

C$27

D$30

✓ Correct answer

D: $30

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Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2014 Paper 1 Variant 1, question 15.

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