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David produces hand-carved wood boxes. David is very organized about his business and thus knows the average variable cost (AVC) and average total cost (ATC)
David produces hand-carved wood boxes. David is very organized about his business and thus knows the average variable cost (AVC) and average total cost (ATC) for any level of quantity he produces (in other words, if quantity is 20, David knows both the AVC and the ATC). Which of the following can David NOT calculate given this information about average variable cost and average total cost?
Variable Cost
Fixed Cost
Average Fixed Cost
Both B & C
All of the above can be determined.
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