Multiple Choice
A firm pays $500,000 per year on costs that it cannot alter in the short run. This year, it expects to produce 100 units, and it will pay $400,000 on the inputs to produce those 100 units. What is this firm's average variable cost?
A) $5,000
B) $9,000
C) $4,000
D) $1,000
Correct Answer:
Verified
Correct Answer:
Verified
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