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Concept: Graphing Cost Curves

Problem: If average total cost is $50, quantity produced is 10 and total fixed cost $100, what is the total variable cost for the output of 10?

500

100

400

1000

Problem: Based on the graph below, at a quantity of 100, AFC is equal to:

$50

$200

$250

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Problem: When a firm is producing zero output, total cost equals:

Zero

Variable cost

Fixed cost

Average total cost

Marginal cost

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