At 60 units of output, the AVC is

Assessment: JAMB UTME - Economics - 2003 Subject: Economics

Question 1 Report

At 60 units of output, the AVC is
Answer Details
Variable cost = Total cost - Fixed cost
= 150 - 60
= 90

Average variable cost = Variable cost / produced per day (Units)
= 90 / 60
= #1.50

Read lesson note on The Theory Of Production (JAMB)
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