During the past year, a firm produced 10,000 lap- top computers. Its total costs were $5 million,
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During the past year, a firm produced 10,000 lap- top computers. Its total costs were $5 million, and its fixed costs were $2 million. What are the aver- age variable costs of this firm?
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To calculate the average variable costs of the firm we first need to deduce the t...View the full answer
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